Bank of America pledges $1B to combat inequality

Posted online

Bank of America announced a $1 billion donation to help address economic and racial inequality.

The donation will be issued over the next four years to community programs and small businesses.

CEO Brian Moynihan said "underlying economic and social disparities" were heightened by the coronavirus pandemic. He also said nationwide protests sparked by the death of George Floyd have "created a sense of true urgency."

Read more from CNN Business.