BANK OF AMERICA PLEDGES $1 BILLION TO FIGHT RACIAL INEQUALITY

Bank of America is donating $1 billion over the next four years to community programs and small businesses to help address economic and racial inequality that has been exacerbated by Covid-19.

CEO Brian Moynihan said in press release Tuesday that “underlying economic and social disparities” were made worse by the pandemic and mentioned the nationwide protests sparked by the death of George Floyd in police custody has “created a sense of true urgency.”
“We all need to do more,” he said.
The billion-dollar donation is an expansion of the several hundreds of millions of dollars Bank of America donates to nonprofits and lends to small, minitority-owned businesses.