Bank of America is pledging $1 billion to help communities fight economic and racial inequality. “We thought instead of just talking, it’s time to put up the money,” CEO Brian Moynihan says.
announced Tuesday that it will commit $1 billion over four years to help local communities grapple with the widened economic and racial inequality caused by the Covid-19 outbreak.
"Underlying economic and social disparities that exist have accelerated and intensified during the global pandemic," Bank of America CEO Brian Moynihan said in the release. "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.
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