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Bank of Finance

Economics

The Civil Rights Act of 1964, which outlawed discrimination in certain public places, did not apply to banks and financial institutions. African Americans continued to face discriminatory treatment at many white-owned banks, including when applying for loans. Onie B. Granville, a Los Angeles real estate broker, founded the Bank of Finance in 1964 to provide Black customers with fair access to financial services. Within three years of opening, the Bank of Finance had 6,000 depositors and assets of nearly $6.4 million. The bank continued to serve the Black community of Los Angeles into the early 1980s.