P.W. Chavers

Biography

P.W. Chavers (1876–1933) born Pearl William Chavers, was a banker, entrepreneur, industrialist, philanthropist, African-American journalist, and real estate developer in Chicago, Illinois. He devoted his life to the establishment of a black economy in Chicago, Illinois and in Columbus, Ohio. He started the first National Bank in Chicago for African Americans called the Douglass Bank was the author of a Congressional Bill introduced in 1924 to provide Federal guarantee of bank deposits, known today as the Federal Deposit Insurance Corporation.

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