There’s a seemingly bottomless well of ideas and options being promulgated to mitigate income inequality and to expand economic opportunities for the most disadvantaged Americans. Bank of America is, well, banking on affordable healthcare as the best option. The Charlotte, North Carolina, giant, with assets of $3 trillion, recently announced it would allocate $40 million to CDFIs across the country through low-cost long-term capital to promote the development and expansion of primary healthcare facilities and centers to serve low-income Americans in medically underserved areas. Bank of America is not alone among big banks giving increasing support to CDFIs to address economic inequality in various ways. In recent years, JP Morgan Chase , U.S. Bank , TD Bank , Wells Fargo and others have all announced large initiatives supporting CDFIs. To be sure, the banks are counting on good press coming out of the investments. And like with Bank of America’s latest $40 million contribution, the investments are minuscule compared to the banks’ massive assets. Still, Bank of America’s use of CDFIs to spearhead its healthcare initiative is smart, as these organizations know their local communities — and how to address their needs — best. The commitment of $40 million […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
