In recent news, amidst the drive to create black economic in power in lieu of the mass amounts of police killing unarmed black men, people all over the country and been moving and/or opening accounts at black banks. The Root reported within five days, over 8,000 people transferred money into Citizens Trust Bank, a historically black bank in Atlanta, Georgia. Even celebrities like Solange Knowles led the charge in moving her money over to an institution owned and operated by African Americans.
While the culture is fueled by its drive to shift the economic power structure of our communities, rapper Boosie is giving us fuel to add to the fire of why we should consider moving our funds. Today on Instagram Boosie expressed his alleged beef with Capital One Bank and a missing total of $469,000 in funds that have gone missing. The rapper let the public know he has been fighting to get his money back for an entire year, and how the bank has threatened him for constantly contacting them regarding the missing money. Boosie has only been out of prison approximately two years, but he has expressed his issues with the law, law enforcement and the justice system within Louisiana, and now, he is at war with the banks of his home state. Boosie urged in his post that the bank needs to pay him immediately, “to the heads of Capital One banks u need to fix this n fix this ASAP . Wrong is wrong. Pay me my shit. Why put money in the bank when this kind of shit happens to your money? Then they basically tell u fuck off we robbed you out a half-a-million dollars smh.” Read more below.
As of today, there is no response from Capital One Bank, but the bigger question can be framed from this mere example. Think about the possibilities of how things would be different if Boosie had placed his funds in a traditionally African American owned bank instead. If a person like Boosie place a half million dollars in a traditionally African American bank, he could probably have a place on being a board of director instead of just a guy with an account. A person like Boosie could provide the ability of creating a gateway to securing and approving more loans for businesses and housing throughout communities of color. We hope Boosie, an artist who has worked tremendously hard since leaving prison in 2014, receives everything that has been stolen from him.
Syllabus Magazine, the Carolina’s source for Music, Culture and Fashion