The past year has been a trying time for our nation, particularly for America’s elderly population who were disproportionately impacted — both in terms of hospitalizations and deaths — from the coronavirus pandemic.

Black-owned community banks have a long history of serving Americans historically left out of the mainstream banking system. Many well-established community banks continue this legacy today, but one troubling trend has emerged in the past two decades.

While community banks have again proven their importance to local communities as Paycheck Protection Program leaders, public banking proponents in some states and municipalities threaten to undermine this system and its benefits to consumers.