How did the Mechanics and Farmers Bank of Durham, NC, differ from most other banks of the early 1900s?

Mechanics and Farmers Bank was founded in Durham in 1907 by Black businessmen to provide banking services to the Black community, which was often excluded from other financial institutions. It was not created to serve large corporations, and the FDIC did not exist until 1933. The correct choice is “It was established by Black businessmen to serve their community.”

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