Killer Mike co-founds Greenwood bank for Black and Latinx communities

Killer Mike is one of the founding members of the new Black-owned digital bank Greenwood, which distinguishes itself from other digital banks with its emphasis on outreach to Black and Latinx communities, CNN reports. The venture officially launches in January of 2021 but has already received “tens of thousands” of account requests. In addition to offering checking and savings accounts, peer-to-peer transfers, and mobile deposits, the bank allows two-day payday advances for those with direct deposit. Additionally, Greenwood specializes in providing financing for Black and Latinx entrepreneurs, who often face barriers in acquiring small business loans from typical banking services.