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Century Black Panther Leader Rico C. Dukes Calls for Bank Boycott, Advocates Credit Unions and Financial Independence
March 1, 2025 – Dallas, TX – Rico C. Dukes, leader of the 21st Century Black Panther movement, has launched a nationwide call to boycott major banks, urging the Black community and allies to shift their financial power toward credit unions or embrace complete financial independence.
Dukes argues that mainstream financial institutions have historically exploited and discriminated against Black communities, pointing to high-interest loans, redlining practices, and disproportionate denial rates for Black business owners and homeowners. He emphasizes that true economic liberation can only be achieved by cutting ties with banks that he claims perpetuate systemic racism.
“Black America has been financially enslaved for too long,” Dukes stated in a recent speech. “It’s time to take control of our own wealth, support our own institutions, and build a financial system that truly serves our people.”
As an alternative, he is advocating for the use of Black-owned credit unions and community-based financial networks, stressing that these institutions are more likely to reinvest in Black communities. He also suggests a radical approach: moving away from traditional banking systems entirely by prioritizing cash-based transactions, bartering, and decentralized financial structures.
Dukes' call to action comes amid growing frustration over economic disparities, with studies showing Black Americans continue to face challenges in accessing financial resources. His initiative aligns with previous economic empowerment movements, such as those championed by Marcus Garvey, Malcolm X, and the original Black Panther Party’s focus on self-sufficiency.
While supporters praise his vision for economic empowerment, critics argue that avoiding traditional banking systems could present financial hurdles, such as difficulties in securing large-scale investments and mortgages. However, Dukes remains firm in his stance, insisting that financial independence is the only way forward.
“This is not just a protest—it’s a movement,” he declared. “We must reclaim our financial destiny, or we will forever be at the mercy of a system designed to keep us down.”
His call for action has sparked discussions nationwide, with some Black-owned financial institutions already seeing increased interest. Whether this movement will gain traction on a larger scale remains to be seen, but one thing is clear—Dukes is determined to redefine financial empowerment for the 21st century.
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