Bank of America pledges $1 billion to help fight racial inequality
Published: Jun. 4, 2020 at 9:26 AM CDT
Bank of America is pledging one billion dollars to help fight racial inequality, the bank's CEO made the announcement in a press release Tuesday.
He says "underlying economic and social disparities" were exacerbated by the COVID-19 pandemic and the death of George Floyd, and have created a sense of urgency." Bank of America says over the next four years, the billion dollars will go to community programs and minority-owned small businesses.
The money will expand health services in communities of color, and help recruit new bank employees in economically disadvantaged communities.