Individuals with borderline personality dynamics and who belong to marginalized racial groups may encounter various challenges in navigating racism in different forms and degrees of explicitness, particularly as these experiences interact with their own psychological vulnerabilities and relational patterns. In the analytic relationship, both analysts and patients may encounter dilemmas involving interpersonal expressions of racism, invalidation, questioned perceptions of discrimination and racism, breakdowns in mentalizing, and externalizing processes within the transferential and sociocultural fields. The author draws from mentalizing theory and praxis, along with an intersubjective psychoanalytic sensibility, to describe a case that highlights some of the quandaries and possibilities of working at the intersections of race, racism, and borderline processes.