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Bank of America Says Its Support for Minority Lenders Exceeds $2 Billion

  • CEO Moynihan says bank is providing ‘access to capital’
  • Minority-focused firms in every U.S. state are recipients
    
Photographer: Christopher Dilts/Bloomberg

Bank of America Corp. said its portfolio of loans, deposits and equity investments benefiting minority-focused lenders has grown past $2 billion. 

The total included $100 million in deposits and $36 million of equity in minority depository institutions, or MDIs, Bank of America said Tuesday in a statement. The bank said its investments to community development financial institutions are part of a broader effort to support small businesses and underserved clients.