Invest in large-scale, affordable home construction in distressed communities of Chicago.
by Rochelle Foster, Kevin Sutton, Amy Totsch for Chicago Business
April 16, 2021
- Bank of America promised $1 billion over the next four years to address "economic and racial inequality accelerated by a global pandemic."
- U.S. Bank announced $116 million annually to "Black-owned-or-led businesses and organizations," with $15 million aimed at "systemic economic and racial inequities in small business, affordable housing, and workplace development."
- PNC Bank committed more than $1 billion "to help end systemic racism and support economic empowerment of African Americans and low- and moderate-income communities."
- Huntington Bank announced a "$20 Billion Community Plan to Help Boost Economic Opportunity Throughout Its Seven-State Footprint," with $7.5 billion committed toward affordable housing and home ownership.
- Fifth Third Bank pledged $8.75 million "to support small businesses and the community during the COVID-19 pandemic."
- JPMorgan Chase announced $30 billion over the next five years specifically allocated toward Black and Latino communities.