icon-search icon-programRelatedInvestments icon-missionRelatedInvestments icon-lowIncomeHousingTaxCredit icon-technology icon-placeBased icon-loanGuarantee icon-minority icon-equityInvestments icon-close calendar chevron-thin-up chevron-thin-down chevron-thin-right chevron-thin-left icon-facebook icon-linkedin icon-twitter icon-youtube icon-caret icon-lock icon-star-in-circle heart-icon home-icon dashboard-icon messages-icon user-icon

Bank of America Dedicated $50 Million to Support Minority Depository Institutions (MDIs)

As part of its $1 billion commitment, Bank of America dedicated $50 million to support minority depository institutions (MDIs) and community development financial institution (CDFI) banks. As part of these equity investments Bank of America will acquire up to 4.9% of common equity in MDIs and CDFI Banks facilitating benefits in the communities that these institutions serve through lending, housing, neighborhood revitalization, and other banking services.

Read more The Argus-Press here>>>