CDFIs

The online TV giant will start by moving $25 million to a fund that invests in minority-run financial institutions that serve low-income communities and depositing $10 million into Hope Credit Union in Jackson, Miss.

Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.

The employee assisted authorities in currency trading investigations that cost the bank $714 million; Citi is eyeing an expansion of its commercial banking ops in Europe, Middle East and Africa as other lenders exit on coronavirus fears.

The agency is trying to get small lenders to help underserved businesses get the loans; although the British government is guaranteeing small business loans, banks are required to collect on delinquents.

How a twentysomething marketing entrepreneur helped transform a small community development financial institution into a digital leader.