Maryland’s Gov. Wes Moore (D) recently caused a stir in the movement for reparations in his state. The nation’s only Black governor, he vetoed a bill to assess the wrongs of slavery and Jim Crow and propose various remedies. The act had been championed by the state legislature and the Black Caucus, and there is even now talk of overriding his veto.
However, Maryland’s Black political leadership may be overlooking an alternative strategy to address the politics of reparations. It draws inspiration from how America handled the rebuilding of Europe and Japan after World War II. And Moore, as the nation’s only sitting Black governor, can reframe the issue’s politics and enhance Black community self-governance. He can initiate a summit to establish a development bank for the descendants of slavery and Jim Crow.
What follows is a description of how such a bank can benefit the quest for reparations, why Moore was probably wise to veto the state bill and why Maryland is the place to incorporate a “reparations bank.”
After World War II, the U.S. led the effort to establish a development bank to finance the reconstruction of war-torn Europe and Japan. The multilateral initiative was crucial to a broader package of assistance that came to be known as the Marshall Plan. In a similar fashion, Moore can take the lead to charter a bank to finance the reconstruction of distressed Black communities. Beyond the current efforts of advocates to pursue restitution through piecemeal claims, a bank could be a more efficient way to center the creation of Black institutional wealth.
Moore could oversee a summit of political leaders and community banking professionals to craft a mission statement for the reparations bank. It could include members of Maryland’s legislative Black Caucus, the Congressional Black Caucus and consultants from Black-owned financial institutions like the Harbor Bank of Maryland. The charter would designate the entity under federal regulations for community development financial institutions and Maryland’s community banking laws. Though located in Maryland, the fund would invest in worthy projects for moderate-income Black communities across the country. It would be administered by banking professionals and monitored by an independent accounting service.
The development bank would primarily seek private donations and corporate depositors and would pool the funds and collaborate with Black-owned banks, credit unions and attuned financial institutions to vet proposals for planning grants, microfinancing and long-term loans. It could invest in small-scale projects in areas such as cooperative housing and stores, community development corporation charter schools, healthcare and infrastructure projects, and programs for occupational training and entrepreneurship. It would have a rotating board of directors selected from dues-paying organizations that represent the foundational Black community — namely, those that suffered the wrongs of slavery and Jim Crow.
Moore was wise to veto the state bill. American political culture has changed dramatically since the days of racial justice activism after the 2020 police killing of George Floyd. During that period, advocates for reparations in California, Illinois and New York found sympathetic allies for legislation to study the subject. But even those initiatives skirted the issue of cash reparations in favor of noneconomic measures like a formal apology.
Since then, public sentiment has turned against proposals for racial remedy, and especially the use of public funds for restitution. Other than Black Americans, most groups tend to oppose the idea of reparations, and the empathy for the Black Lives Matters movement was short lived, according to the Pew Research Center. And Democratic Party leaders have expressed concern about the effect of identity politics in the presidential election.
As such, advocates may need to explore alternative strategies other than lobbying for a public accounting in the states. The development bank proposal would rely on private funding rather than public.
The Trump administration is openly dismissive of Black history and its meaning for contemporary justice. On the 250th anniversary of the American Revolution, for example, the president condemned diversity policies in the armed services during a speech at West Point. Yet Trump brushed aside the historic role of 700 Black patriots — free and enslaved — that participated in the founding of the U.S. Army under frigid conditions at Valley Forge, Pennsylvania.
And, though speaking to cadets during the Memorial Day weekend, he neglected to describe how ex-slaves started the Memorial Day holiday after the Civil War. The first commemoration of American war casualties is believed to have occurred on May 1, 1865. That’s when emancipated Black workers unearthed a mass grave of Union soldiers near a Confederate prison in Charleston, South Carolina. They reburied the men in a dignified manner and honored their sacrifices to preserve the Union and to end slavery.
Additionally, Maryland is the place to get the ball rolling. In criticizing Moore’s veto, the legislative Black Caucus noted that the statehouse in Annapolis is less than a mile from the old slave port at the city dock. Yet Maryland symbolizes far more in Black history and contemporary political culture — foremost, its distinction for a high level of statewide political influence.
This trend began in 2022 with the election of Moore as governor and Anthony Brown as attorney general — the first Black leaders elected to those offices in the 237-year history of the “Free State.” Meanwhile, Angela Alsobrooks extended the momentum in her winning campaign for a U.S. Senate seat last year.
Maryland is thus the only state where representatives of a sizable Black community have deep roots in the political culture. As such, it is arguably the symbolic capital of Black America. And as governor, Moore is in a position to host a historic summit for the establishment of a development bank for the descendants of slavery and Jim Crow.
Roger House is professor emeritus of American Studies at Emerson College and the author of “Blue Smoke: The Recorded Journey of Big Bill Broonzy” and “South End Shout: Boston’s Forgotten Music Scene in the Jazz Age.” His forthcoming book is “Five Hundred Years of Black Self-Governance: A Call to Conscience.”
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