Bank of America Announces $1 Billion/4-Year Commitment to Support Economic Opportunity Initiatives
02 Junio 2020 - 6:16AM
Business Wire
Bank of America announced today that it is making a $1 billion,
four-year commitment of additional support to help local
communities address economic and racial inequality accelerated by a
global pandemic. The programs will be focused on assisting people
and communities of color that have experienced a greater impact
from the health crisis.
“Underlying economic and social disparities that exist have
accelerated and intensified during the global pandemic,” said CEO
Brian Moynihan. “The events of the past week have created a sense
of true urgency that has arisen across our nation, particularly in
view of the racial injustices we have seen in the communities where
we work and live. We all need to do more.”
The work builds on economic mobility and workforce development
programs Bank of America already supports in local markets, but
will sharpen the focus of that work, accelerate the resources, and
add a particular emphasis on health services during the pandemic.
The announcement is aligned with the company’s commitment to
responsible growth for clients, shareholders, employees and
communities.
Areas of focus will be:
- Health
- Jobs/Training/Reskilling/Upskilling
- Support to Small Businesses
- Housing
The programs will be executed through the company’s 91 local
U.S. market presidents and non-U.S. country executives to help
develop the opportunities to execute on these commitments in areas
that include:
- Virus testing, telemedicine, flu vaccination clinics, and other
health services, with a special focus on communities of color.
- Partnerships with historically black colleges and universities
and Hispanic-serving institutions in the United States for hiring,
research programs, and other areas of mutual opportunity.
- Support to minority-owned small businesses, including clients
and vendors.
- Career reskilling/upskilling through partnerships with high
schools and community colleges.
- Operating support and investment for affordable
housing/neighborhood revitalization, leveraging our nearly $5
billion in Community Development Banking.
- Further recruitment and retention of teammates in
low-to-moderate-income and disadvantaged communities to build on
work the company has already done to serve clients locally.
This work builds on steps the company has already taken,
including an additional $100 million to support its nonprofit
partners across its communities, and $250 million to assist with
lending to the smallest and minority-owned businesses through its
support to community development financial and minority depository
institutions.
Bank of America Bank of America is one of the world’s leading
financial institutions, serving individual consumers, small and
middle-market businesses and large corporations with a full range
of banking, investing, asset management and other financial and
risk management products and services. The company provides
unmatched convenience in the United States, serving approximately
66 million consumer and small business clients with approximately
4,300 retail financial centers, including approximately 3,000
lending centers, 2,700 financial centers with a Consumer Investment
Financial Solutions Advisor and approximately 2,100 business
centers; approximately 16,900 ATMs; and award-winning digital
banking with approximately 39 million active users, including
approximately 30 million mobile users. Bank of America is a global
leader in wealth management, corporate and investment banking and
trading across a broad range of asset classes, serving
corporations, governments, institutions and individuals around the
world. Bank of America offers industry-leading support to
approximately 3 million small business owners through a suite of
innovative, easy-to-use online products and services. The company
serves clients through operations across the United States, its
territories and approximately 35 countries. Bank of America
Corporation stock (NYSE: BAC) is listed on the New York Stock
Exchange.
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
and register for news email alerts.
www.bankofamerica.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200602005477/en/
Reporters May Contact: Jessica Oppenheim, Bank of America,
1.646.855.1600 jessica.oppenheim@bofa.com
Bank of America (NYSE:BAC)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Bank of America (NYSE:BAC)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024