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.
This is a big deal. They have also notice that it’s not only brown n black out there walking, it’s a whole lot of white and it all equals a lot of green...as it always has but more so now since they (banks) are having an ah ha moment, they are waking up!
Boycott AT&T, Bank of America, JP Morgan Chase, Walmart and Uber to start. Let's add to this list.
This is simply just a black people get harmed everybody gets paid but black people
BAC owes these communities nothing.
Liberal Governments are incompetent. High taxes, high social spending, bloated gov. , big pensions. Now they want private companies to bail them out. I say no. I agree with SenRickScott . SquawkCNBC BeckyQuick
They could just give it back directly to their consumers, they’ll funnell it to select places for clout, PR hosts, and tax breaks only.
You can help change America by giving immunity to those already innocent and reforming Sealing and Expungement sign my petition
If B of A really wanted to help they would offer free checking accounts.
What a loser
chicken feed...thats embarrassing
Donations.
“Bank of America said the programs, which will be implemented by the company's 90 local U.S. market presidents, will concentrate on areas impacted by the spread of Covid-19 including, health, jobs and retraining, support for small business and housing.“
With an 8.8% interest rate
FDIC has been trademarked on the banks forever. And not 1 bank in America has lended to blacks, equally as whites. Why we let them get away with dressing up bullshit
Haaaa. It’s our money ,you fool.
Feel good payoff with someone else's money. CorporateCowardice
Be nice if they paid their taxes and reduced salaries of executives but I guess that isn’t going to happen.
$1 billion is pocket change to them. They need to take a stand and demand trump resign or they will continue to be part of the problem.
Glad none of my money Is fueling this ridiculous virtue signaling BS by a cuck CEO
TaxBreaksForTheRich
Thats great! I see Dow futures are up 340 today. Wall Street is flying now, and should support Main Street
We are going to help the community by pretending that we are giving back to them what we have overcharged them.
How about you approve more housing loans
Cnbc has the nerve to publish this bullshit PR news. Everyone knows this is a bluff dude. For a change can’t you all be little honest
More of this.
Let me guess, all borrowers with at least a 700 FICO and 20% down will be treated equally...
Corporate Pandering
How about $1B to rebuild these neighborhoods after these thugs and looters vandalized them in honor of whats his name....
Chump change when you continuously get billions from the federalreserve
Are you just giving away free $1 billion how are you helping?
Fundamental changes need to happen in this country. Capital Funding is definitely a good start! Political positions at all levels, from local to national need to be scrutinized for qualified non racist candidates hi can truly represent all Americans.
Big deal. The FED hands you that much every month.
Why so they can burn it down again.
What's the wording in it and what are the specifics? That's important.
CEO Brian Moynihan: Better to hand over the money to the mob before they break the windows.
Seen this movie before 🤔 government forced banks to underwrite risky loans all under the heading of equality, only for it to later blow up.
1 billion is nothing, 4.2 trillion. And not a dollar less. Get it done. We are watching you.
And what will that be spent on?
Wow, would you just look at that.
Great opportunity to keep oppressing minorities with more debt. Such a noble approach.
Police Reforms Now!
👍 Very American!
So all the non-minorities need to do is to cry every time one of our criminals resists and dies in custody, burn down our communities and loot and we will get money from BOA?
'We are going to help minority communities by continuing to lend to them.' Thanks Brian for following the law.
Glad I don’t bank with those n!gg3rs
What does that even look like?
THAT’S A JOKE!!! BOA will just help large businesses and not the little guy as that is how the DEMOCRATS OPPERATE!! Every PATRIOT should close their account! Why doesn’t he pay depositors more interest on their accounts?
Easy for him to say. It's shareholder's money, not his or the Bank's.
Financial institutions are one of the biggest enablers of economic and racial inequality.
The currency of violence is broken glass not dollars.
they should build more shoe stores and cheesecake shops in urban black communities
A transition back to the gold standard is the ONLY solution. People reject it. So things will get worse. Just observe over he coming years. And then read the Austrian school of economics to understand what is happening, economically.
Talm bout housing funds. 🤦🏾♂️. Its debt and gentrifying.
They commit this after every civic event, then bail on their commitment. It’s predatory marketing. Soon thereafter their back to screwing everyone in their path. Do buy it folks. They are part of the problem.
Pieceful protesting is being destroyed by theses HYPOCRITES NOTHING NEW WITH HYPOCRITES.
Wake me up when Bank of America is no longer charging 25% interest rates on their credit cards, despite borrowing from the Federal Reserve at 0-0.5%
With interest rate will 23.9%. Loan sharking on a tragedy.
You helping Hypocrites. Nothing but HYPOCRITES that think 🤔 only Blacks Lives matters and no one eles dose don’t work like that sorry Charlie. ALL LIFE MATTERS ALL LIVES MATTER not only blacks people HYPOCRITES
Wow CNBC totally left what happened. I can not believe what I am hearing.
More meaningless virtue signaling....... just with more zeros.
The same Bank who got fined for not giving African Americans loans in the first place?
You are such a nice political channel now. Time to find another avenue to hear business news. Bye, bye.
Another bulshit PR campaign
Black looters matter
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