The current financial sector in the U.S. is structured on financial instruments that use debt, speculation and equity to extract and horde wealth into the hands of a few elites while punishing working people, especially Black and Brown people, leaving them subject to predatory debt based products that perpetuate cycles of poverty. ACRE believes that equitable access to high-quality financial services is a fundamental right that should be provided to all communities. Private banks have failed to serve communities of color, many having extracted their wealth and power through the degradation, racist and patriarchal practices, both historically and today. Access to capital, interest free loans and safe and ethical banking can be provided through publicly-owned and controlled financial institutions that are run in the public interest.

Related reports & projects:
— Read our April 2016 report: Municipal Banking – An Overview