Citi Rolls Out $1B In Funding To Close US Racial Wealth Gap

Law360 (September 23, 2020, 5:06 PM EDT) -- Citigroup Inc. and its Citi Foundation unveiled over $1 billion in initiatives and investments Wednesday that aim to decrease the racial wealth gap in the United States by targeting issues including access to traditional banking services for communities of color and barriers that Black-owned businesses face.

The company's plans to expand on existing initiatives and launch new ones come as U.S. institutions and major companies have reckoned with their role in decreasing racial inequality on the heels of ongoing social unrest over police brutality and racism against Black Americans.

Citi said in a press release that its "Action for Racial Equity" plan aims...

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