TULSA, Okla. — The American Bank of Oklahoma has a new branch in Deep Greenwood.
The office opened as part of a settlement between the bank and the U.S. Department of Justice, following accusations of ‘redlining’ customers in predominantly Black and Hispanic neighborhoods.
Floyd Goode, Community Lending Director, oversees the Greenwood branch and is settling into his new office.
“Opening our office gives me an opportunity to have a direct impact on the community I grew up in,” Goode said.
The DOJ announced the settlement in August, 2023. Investigators at the DOJ accused bank leaders of neglecting customers in predominantly Black and Hispanic neighborhoods.
WATCH: 2 News covered the settlement from the outset
The bank settled with DOJ for millions of dollars in various investments, including the new Greenwood location.
Teresa Brown, President and CEO of American Bank of Oklahoma, spoke with 2 News Oklahoma.
“We’re very committed to improving the numbers as far as home-ownership in North Tulsa,” Brown said, “Although it was unfortunate [the DOJ case] occurred we very much are taking the approach that we wanna correct this and we wanna move forward and, be a resource, for all the individuals in North Tulsa,” Brown said.
Goode, a native Tulsan and former football player at the University of Tulsa, is taking the opportunity seriously.
“I truly want to educate the community and get them to understand what’s going on when they sign those papers, and also, not be afraid to ask questions,” Goode said, “That’s the easiest way to lose generational wealth, is to not be educated on the assets that you have.”
The opening of this branch symbolizes just the beginning of ABOK’s investment in North Tulsa, as the bank commits millions of dollars in initiatives following the DOJ case; including subsidies for closing costs and other home-buying fees. Also, bank leaders say they will offer financial literacy classes to North Tulsa neighbors.
2 News’ Brodie Myers listened to Rhoda Rhine’s thoughts on the bank.
“I think it’s much needed. In the beginning, we owned [the land and property] anyway, so to have a means of our community being able to come back and to purchase – that would be a great help,” Rhine said, “Instead of everyone having to be scattered and moved all across town, not because they want to, but because of how the system is set up.”
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