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Discrimination in the Financial Industry
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If business patrons ever got wind of any kind of racism in a business, most would face protests and eventual shutdown. The one place where this does not occur, though, is in the banking industry. When it comes to giving loans or conducting businesses with minorities, these businesses tend to do what they want with no care for who they hurt. Banks, for some reason, are allowed to discriminate as a matter of course.

In some cases, discrimination occurs through a refusal to do business. When a black or Latino business owner comes in for a loan, they’re far less likely to be served than a white business owner. When they are served, they are likely to be judged more harshly on their credit scores. They’re even more likely to have to provide some kind of security even when business owners from other races are allowed to walk away with a promise and a handshake. Regardless of how often this has been reported, banks have made no real moves to change how they do business.

In other cases, banks are more than happy to push products onto minorities. Even when a member of a minority who seeks a typical mortgage might be looking for a typical loan, they’ll be pushed towards a more predatory product. The helps those in finance to not only get more money out of minorities but to point to their failure to pay as a reason to keep discriminating. It is a circular trap that keeps certain people from being able to participate fully in the economy while keeping the banks rich. Banking, to some degree, relies on institutional racism to keep functioning.

There are options, though. BitCoin operates without any kind of institutional racism. There are no bankers working with this currency, nor are there gatekeepers that judge people by race before allowing them to participate in the economy. One doesn’t have to worry about credit, nor do they have to deal with one of the many finance hurdles put in place to keep minorities out of the market and it's very simple to create your own Bitcoin paper wallet. BitCoin only cares about the individual’s ability to invest, which never has anything to do with race or skin color. This is currency in a pure form untainted by racism.

There’s no reason to keep supporting institutions that thrive on racism. Treat banks like any business that discriminates against customers – avoid them and move on to an option that treats people like people. Cryptocurrencies are becoming more popular all the time. Those who choose to use it can send a message to the prejudiced banks and let them know that there is no place for their attitudes. If there’s going to be a message sent, it has to be sent in the only language that the banks will understand – the language of currency. It’s time to take away their power.

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