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Title: A Chief Lieutenant of the Tuskegee Machine: Charles Banks of Mississippi

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Subject: History
Author:
Date: July 21, 1996
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Length: 3 / 640
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As a founder of the Bank of Mound Bayou, Banks ensured his town residents could invest in their own community by borrowing in a neighborhood bank. When the bank failed, white banks raised interest rates and required black farmers in the community to bring their cotton to gins owned by whites...

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When the bank failed, white banks raised interest rates and required black farmers in the community to bring their cotton to gins owned by whites. This was costly to the community. One year after the bank failed, Banks helped to create a new Mound Bayou State Bank that met with state requirements and struggled to pay off investors from its earlier debts...

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