Bank of America Pledges $10-Million to Nonprofit Lenders
July 30, 2010
Bank of America on Thursday committed $10-million in grants to nonprofit lenders to help small businesses, The Wall Street Journal says.
The banking giant will channel the money to organizations such as Community Development Financial Institutions, which have seen their lending shrink as the recession restrained their support from federal agencies.
The Federal Reserve Chairman Ben Bernanke expressed concern earlier this month that major financial houses are not doing enough to help small businesses.
