The Consequences of the Freedman’s Savings Bank Failure
Author Information
Author(s): Warren John, Helgertz Jonas, Esposito Michael, Wrigley-Field Elizabeth, Hacker J David
Primary Institution: University of Minnesota
Hypothesis
What are the long-term social, economic, and mortality outcomes for depositors who lost their savings due to the failure of the Freedman’s Savings Bank?
Conclusion
The failure of the Freedman’s Savings Bank had significant long-term negative effects on the life outcomes of Black depositors and their children.
Takeaway
A long time ago, a bank that was supposed to help Black people failed, and this study looks at how that failure affected their lives and their kids' lives for many years.
Methodology
The study used linked records from U.S. Censuses and detailed records on the bank’s branches, deposits, and losses to estimate the effects of the bank’s failure.
Participant Demographics
Black depositors and their children.
Digital Object Identifier (DOI)
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