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U.S. Treasury allocates $8.7 billion in new capital to community, minority lenders -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A photo illustration of U.S. 100 dollar bank notes taken in Tokyo on August 2, 2011. REUTERS/Yuriko Nagao

WASHINGTON, (Reuters) – U.S. Vice-President Kamala Harris announced Tuesday more than $8.7 Billion in capital investment in community financial institutions and minority owned banks to increase lending in disadvantaged communities.

Capital allocations for 186 institutions are part of the $12 billion of funding for CDFIs, minority banks and other financial institutions included in legislation to alleviate coronavirus at the end 2020. It was signed by Donald Trump.

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