In my publication titled “Black Paper: Black American Homeland,” I propose a concept where the 8 States Southern Region, consisting of Super Majority Black States, collaboratively unite and pool their resources to create a State or Regional Deposit Insurance Corporation (SDIC or RDIC). This initiative aims to provide a new framework for the regulation and oversight of the 400 Black-Owned Banks operating within this region. Banks can opt for regulation either under the Federal Deposit Insurance Corporation (FDIC) or directly by the State, enabling them to bypass the constraints and stipulations imposed by the FDIC. This approach seeks to empower local control and enhance the autonomy of these financial institutions while fostering cooperative growth within the Southern Region.

by Frederick Delk