7 Best Black-Owned Financial Institutions msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Comerica Bank is earmarking $5 billion for small business lending over the next three years and expanding a support program."Coming out of this pandemic, now more than ever, small businesses need our support," Cassandra McKinney, executive vice president of Comerica's Retail Bank, said in a news…
The current movement for racial reconciliation has raised awareness of the centuries-long wealth gap in America between whites and people of color—and of the role Black-owned banks can play to br.
Coinbase Global Inc (NASDAQ:COIN) and
Dogecoin (CRYPTO: DOGE) monopolizing investor chatter, bank stocks seem so very yesteryear.
And even among those who put their faith and funds into bank stocks, it often seems like the usual suspects get the surplus amount of attention with the money center monoliths and the XL-sized regionals inevitably hogging whatever spotlight shines on this sector.
Here’s a novel concept: Let’s shine that spotlight on four bank stocks that rarely rate a blip of investor chatter, but could easily turn out to be the happy surprises of the year. In alphabetical order, for your consideration, are a quartet of under-the-radar bank stocks that would benefit from some much-needed attention.
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Wells Fargo & Co (NYSE: WFC) has announced equity investments in five Black-owned banks as part of its pledge of investing up to $50 million in Black Minority Depository Institutions (MDIs).
What Happened: The San Francisco-headquartered financial institution’s investments were aimed at two Georgia-based banks Carver State Bank in Savannah and Citizens Trust Bank in Atlanta plus First Independence Bank in Detroit, Liberty Bank in New Orleans and Unity National Bank in Houston.
This is Wells Fargo’s second round of investments in the MDIs. In February, the company announced investments in Broadway Federal Bank in Los Angeles, Carver Federal Savings Bank in New York City, Citizens Savings Bank & Trust in Nashville, Commonwealth National Bank in Mobile, Alabama, M&F Bank in Durham, North Carolina, and Optus Bank in Columbia, South Carolina.