Bank of America Will Spend Half a Billion on “Diversity Initiatives”
Bank of America has announced their intentions to spend half a billion dollars on “diversity issues.” This more than doubles their initial $200 million commitment.
According to a BoA press release, “We work across our company to address critical needs in our communities, including the lack of access to capital that diverse business owners face as they start or grow their businesses,” said Tram Nguyen, Global Head of Strategic and Sustainable Investments at Bank of America. “We want to empower the talented fund managers who keenly understand how to identify and support those business owners. Each time we support a minority- or women-led fund, they in turn support diverse entrepreneurs, which ultimately helps us toward achieving our goal to advance racial equality and economic opportunity.”
The bank has recently drawn the ire of Republican politicians and conservative organization like Consumers’ Research,
