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Speech by Governor Bowman on supporting entrepreneurship and small businesses

Mandate for Maximum Employment Good afternoon and welcome to the third day of the Federal Reserve s Uneven Outcomes in the Labor Market Conference. 1 I ....

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Experts Say More Bank Options Needed for Underrepresented Communities to Combat Inequity

Experts Say More Bank Options Needed for Underrepresented Communities to Combat Inequity
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Wells Fargo Invests in Black-Owned Banks, Pledges Experts

Wells Fargo Invests in Black-Owned Banks, Pledges Experts
Bloomberg
2/8/2021
Lananh Nguyen and Hannah Levitt
© Photographer: Mark Kauzlarich/Bloomberg
Pedestrians wearing protective masks walk past a Carver Federal Savings Bank branch in the Harlem neighborhood of New York.
(Bloomberg) Wells Fargo & Co. made equity investments in six Black-owned banks as part of a broader $50 million pledge to support minority-focused lenders.
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The San Francisco-based bank will assign dedicated teams to provide the lenders with financial, technology or product expertise, it said in a statement Monday. Wells Fargo didn’t disclose the amounts of each investment.
The lenders are:Broadway Federal Bank in Los AngelesCarver Federal Savings Bank in New YorkCitizens Savings Bank & Trust in Nashville, TennesseeCommonwealth National Bank in Mobile, AlabamaM&F Bank in Durham, North CarolinaOptus Bank in Columbia, South Carolina ....

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