Over the next four years, Bank Of America will donate $1B to combat racial and economic inequalities.
Bank Of America is putting up some big bucks (as they should) towards fighting against economic racial disparities in the midst protests across the country and the coronavirus pandemic. In a press release statement obtained by CNN, the CEO Bank Of America spoke about the necessity doing more for Black communities across America, especially after the devastating hit that many small businesses faced following the nation-wide shutdown.
CEO Brian Moynihan acknowledged the “underlying economic and social disparities” that Black communities face along with the economic struggles small businesses were left to deal with because coronavirus. He added that the protests and headlines police brutality against the Black community have “created a sense true urgency.”
“The events the past week have created a sense true urgency that has arisen across our nation, particularly in view the racial injustices we have seen in the communities where we work and live,” said CEO Moynihan, “We all need to do more.”
BA have laid out a $1B plan to take place over the course the next four years develop new workforces and create stronger economy for local communities. They’ll also put a larger focus on creating better access to jobs as well as developing skills and training workers. This initiative will extend to housing and local small businesses as well as health services.