This is how you wound up with historically ethnic banks, universities, etc, etc. Black guy, pole, whatever, can't get a loan (well they can, at a "fuck you" price) from the wasp bank so they go to the lending group they know through their church or whatever. After a few years of that the guys who are doing that lending say fuggit, quit their day jobs and start a bank. Wash rinse repeat to varying extents for just about every sector business.
They'd never allow that today. The incumbents would get the enforcers to kill that before it becomes a legitimate standalone business. And the enforcers have a lot more ammo today because of past 70yr of (mostly civil) law and jurisprudence.
But any modern equivalent isn't done along racial/ethnic lines and so the useful idiots will think it's all fine and dandy and defend it out of one side of their mouth while complaining about a lack of opportunity out of the other.