Minority Bank Decline Risks Widening Financial Gap in
Low Income Areas
August 30, 2016
After serving in the Navy and Merchant Marines and getting a law degree, Eliu Romero returned to his hometown of Taos, N.M. It was there that he had herded sheep in his younger days and there that he now wanted to build a law practice. With ambition but no capital, he sought a $50 bank loan in 1959 to buy furniture for his law firm. Romero was denied, but a seed was planted.
"Here he had worked so hard to educate himself," his granddaughter, Rebeca Rainey, said. "He was coming back to help and do the right thing and was looking for just some modest assistance