America’s first black bank

The Freedman’s Bank was established in 1865 after the abolition of slavery and the Civil War. The Bank was designed to help newly freed African-Americans in their quest to become financially stable. At its peak, it stretched across huge swathes of America. But what began with huge promise ended in massive failure nine years later, leaving a legacy of distrust in its wake. Szu Ping Chan looks at the history and lessons from the collapse of America’s first black bank.