The biggest U.S. bank said it issued $6 billion in loans that kept open affordable housing and rental units across the country, and that another $4 billion went into refinancing 16,000 mortgages for Black and Latino borrowers
In a progress report Tuesday, the nation’s biggest bank said it had issued $6 billion in loans that kept open affordable housing and rental units across the country, and issued $1 billion in loans to build more. It said another $4 billion went into refinancing 16,000 mortgages for Black and Latino borrowers.
The original plan called for $2 billion in new small-business lending and 40,000 home loans in minority communities. The bank didn’t specify its progress on those figures, though it reiterated the targets. To make those loans, it said it added branches to minority neighborhoods, created new jobs and is developing new loan products.
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