Bank of America Announces 10 Completed Equity Investments in Minority Depository Institutions and Community Development Financial Institution Banks

CHARLOTTE, N.C.--(BUSINESS WIRE)--On June 2, Bank of America made a $1 billion, four-year commitment to advance racial equality and economic opportunity, of which $50 million is dedicated to support minority depository institutions (MDIs) and community development financial institution (CDFI) banks. As part of that commitment, today the company is announcing it has now completed 10 equity investments in these institutions, acquiring approximately 4.9% of common equity in each organization as pa