LOS ANGLES/WASHINGTON DC (BBN) — Hollywood’s most bankable film director, Ryan Coogler, is not an American house-hold name despite directing prolific films such as Fruitvale Station and the global blockbuster, Black Panther. The film Black Panther recorded a worldwide gross of $1.35bn dollars and winner of the three Oscars.
Instead, the Black American film director, Ryan Coogler achieves national fame after a routine trip to withdraw $12,000 cash from his local Bank of America branch in Atlanta ends up with him being accused and arrested for attempted bank robbery.
[Bank of America Chief Executive Officer Brian Moynihan speaks to Capitol Intelligence/BBN using CI Glass on growth on small business lending from President Trump tax bill following interview by Carlyle co-founder and co-Chairman David Rubenstein at the Economic Club of Washington, DC. February 15, 2018]
But even more shocking than “another Black man arrested for being black” narrative on national networks and newspapers was that not one of America’s diversity challenged main stream news media groups even attempted to request comment from Bank of America Chairman and CEO, Brian Moynihan.
No-one would be surprised by public apology by Monyihan if Covid-19 attire and mask wearing had made a bank teller call the police on a Steven Spielberg, George Lucas or even George Clooney? But the most impressive new film director of his generation only gets a by-the-book apology from a nameless BofA spokesperson. Mr. Coogler’s agent, Craig Kestel, declined comment when contacted by Capitol Intelligence/BBN.
While US major banks have made strides in addressing the inherent socio-economic bias against underbanked African-Americas by opening branches in urban American neighborhoods, the Coogler incident shows just how little most major banks have achieved in closing the opportunity and wealth gap between Black and suburban America.
A recent data shows Well Fargo denied more than 51% of mortgage refinancing request by their Black American clients, a number so high that Well Fargo’s most powerful and vocal critic, US House Financial Services Committee Chair Maxine Waters (D-CA) can safely assume the rejections by Well Fargo was computer generated and in violation of the basic principles of the Dodd-Frank banking reform legislation.
[US Congressman Maxine Waters (D-CA) speaks to Capitol Intelligence/BBN using CI Glass on becoming the next Chairman of the House Financial Services Committee following a hearing with Federal Reserve Chairman for Supervision Randal Quarles. November 14, 2018]
In the 1970s and 1980s there was intentional redlining in mortgage lending to Black Americans, now the exclusion is programed into the algorithmic mortgage lending of Dan Gilbert’s Quicken Loans or Moynihan’s Bank of America.
The Ryan Coogler incident at the Bank of America branch has more to do with Brian Moynihan’s mission to replace human bank officers at their branches with Fintech computer programs than traditional cracker racism per se.
“Bank of America from its headquarters in Charlotte just keeps sending us memos that human staff at the branches no longer matter and we, humans, will be eventually phased,” said a Bank of America branch manager in northeast DC. “BofA does not give branch managers any decision-making power.”
Little did Mr. Coogler know that he was entering a hostile work environment when he was attempting to get cash to pay his home health care worker. Rather than being greeted by a bank manager on his entry, he was instead humiliated in the national media.
Jamie Dimon, JP Morgan Chase Chairman and CEO, has made it his mission to make sure that America’s oldest bank addresses the issue of under banking in Black American communities by personally opening branches in the Southeast DC neighborhood of Skyland/Anacostia or the Crenshaw neighborhood in Los Angeles.
[JP Morgan Chairman and CEO Jamie Dimon, Mayor Muriel Bowser former DC mayor and Ward 7 Council Member Vincent Gray filmed by The Afro-American Newspaper using CI Glass the third Chase Manhattan branch East of the River at Skyland Town Center near the Hllcrest neighborhood of Southeast DC]
Notwithstanding a statement by Coogler that he and Bank of America have made unspecified amends, Mr. Moynihan needs to have “a beer moment” like the one that occurred between then President Barack Obama, Vice President Joe Biden, a Cambridge police officer, and Harvard professor Skip Gates following another racial incident fueled by ignorance and arrogance.
Mr. Coogler’s $1.35bn grossing film Black Panther is probably the biggest single US export product in 2019.
By Nigel Wright in Los Angeles and PK Semler in Washington, DC. For more information, please email pks@capitolintelgroup.com
Copyright of Capitol Intelligence Group – Turning Swords into Equity®