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commitment

Bank of America announced 10 completed equity investments in MDIs and CDFI banks

3 mins read

The FINANCIAL — On June 2, Bank of America made a $1 billion, four-year commitment to advance racial equality and economic opportunity, of which $50 million is dedicated to support minority depository institutions (MDIs) and community development financial institution (CDFI) banks. As part of that commitment, today the company is announcing it has now completed 10 equity investments in these institutions, acquiring approximately 4.9% of common equity in each organization as part of the broader $50 million commitment. These investments will facilitate benefits across multiple states and in the communities that these institutions serve through lending, housing, neighborhood revitalization, and other banking…

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Bank of America announced 10 completed equity investments in MDIs and CDFI banks

3 mins read

The FINANCIAL — On June 2, Bank of America made a $1 billion, four-year commitment to advance racial equality and economic opportunity, of which $50 million is dedicated to support minority depository institutions (MDIs) and community development financial institution (CDFI) banks. As part of that commitment, today the company is announcing it has now completed 10…

Bank of America’s Q2 profit plunged over 50%

4 mins read

The FINANCIAL — Bank of America reported its second-quarter 2020 financial results today. “It is the most tumultuous period since the Great Depression for Bank of America”, says its CEO Brian Moynihan. The fall in revenue and profit was broadly in line with other Main Street peers that have suffered from the need to brace for a…