Telegram - Serving Metropolitan Detroit Since 1944

By Kellee Jordan
Telegram Reporter 

The Pantheon of Black Banking

 

Damon Kirk and Steven Farrar received the Spirit of Detroit Award last year

According to the Federal Deposit Insurance Corporation almost 17% of African Americans do not have a bank account. Most Black neighborhoods do not have banks for two to three miles, but ATMs are never hard to find. The Black community is underserved in banking and financial literacy. Two young men are working to change that narrative and have built, Obsidian Banking.

"Every time we talked it seemed to be about money, impact, things like that," says Steven Farrar partner of Obsidian Banking. After a few conversations, Steven decided to join Damon on this journey to supply banking services f...



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