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Savings and Trust: The Rise and Betrayal of the Freedman's Bank

byJustene Hill Edwards

Justene Hill Edwards recounts the promise and collapse of the Freedman's Savings and Trust Company, created after the Civil War to serve formerly enslaved people and Black veterans. Depositors treated saving as a route to security, citizenship, and independence, while the bank's leaders pursued risky investments and denied customers meaningful control. Following families, communities, politicians, and financiers, the book connects one institution's failure to the longer history of racial wealth inequality. It is a story of aspiration, exploitation, and betrayed public trust.

Publisher

W. W. Norton & Company

Publication date

2024-10-22

Format

Hardcover

Pages

336

ISBN

9781324073857