Why did the Freedmen's Savings Bank fail?
A) The bank's black board of directors had little direct knowledge of banking policies and practices.
B) The bank had no support from the black community.
C) The stock market at that point was very weak and fluctuated wildly.
D) The white leaders of the bank invested poorly and lost everything in the Panic of 1873.

Question

Quizplus · Accepted Answer

The white leaders of the bank invested poorly and lost everything in the Panic of 1873, which led to the failure of the bank.

Why Did the Freedmen's Savings Bank Fail