Citi to dedicate more than $1 billion to initiative for closing the racial wealth gap. (via CNBCMakeIt)
shows that the average homeowner in 2016 had a household wealth of $231,400, compared to the average renter having a household wealth of just $5,200.
To do its part in helping to close these economic gaps, Citi is breaking down its more than $1 billion initiative in the following five ways over the next three years: $550 million will go toward supporting homeownership for people of color and helping minority developers build affordable housing; $350 million will go toward Black-owned business suppliers; $50 million will go toward investing capital for Black entrepreneurs; $100 million will go toward supporting...
growth and revenue generation of minority-owned banks or banks that primarily service communities of color; and $100 million of Citi Foundation grants will go toward community change agents who are fighting for racial equality. In addition to Citi's more than $1 billion fund, the Citi Foundation is creating a new $5 million grant that will go toward helping U.S. mayors access technical expertise, training and seed capital for pilot initiatives that address racial income gaps. The company is also creating a newin order to increase employment and entrepreneurship opportunities for Black youth.," Citi found that if the U.S.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Citi Pledges $1 Billion To Narrow The Racial Wealth Gap, Confront Wealth InequalityCiti announced a $1 billion commitment to address racial wealth disparities by ruthumohnews
Read more »
Pentagon Gave Most Of Its $1 Billion Coronavirus Package Aid To Defense Contractors: ReportA Washington Post report shows most of the money given to the Department of Defense to fight coronavirus went to defense contractors.
Read more »
How a 24-year-old game developer makes over $1 million on Roblox - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
JPMorgan set to pay nearly $1 billion in spoofing penalty - sourceJPMorgan Chase & Co is set to pay nearly $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, a person familiar with the situation said on Wednesday.
Read more »
Donald Trump's campaign blew almost $1 billion and now they're in deep trouble - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »