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Community Development

11/9/17 9:00 am EST

Bank of America today announced an additional $20 million in funding available through the Tory Burch Foundation Capital Program to connect more women entrepreneurs to affordable loans, administered by community development financial institutions (CDFIs). Since launching in January 2014, more than $30 million in capital has been deployed to more than 1,400 women entrepreneurs, bringing the total capital program commitment to $50 million. more...

6/7/17 9:00 am EDT

What do you wish you had known before you chose your career? That question is at the heart of a collaboration between Bank of America and Khan Academy to help young adults gain knowledge about careers and personal finance as they’re looking for jobs or just starting out in the workforce.

As the class of 2017 sets out on their own, it’s worth noting that:

  • Roughly eight in ten recent college students will graduate without a job lined up, according to an Accenture study.

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6/6/17 9:00 am EDT

Bank of America announced today progress that was made in 2016 to fulfill its commitments across environmental, social and governance (ESG) factors as part of the company’s focus to deliver responsible growth.

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4/3/17 3:00 am EDT

Bank of America Merrill Lynch continues to make its mark as one of the world’s leading corporate supporters of the arts, and announces that grant applications are now open for the 2017 Bank of America Merrill Lynch Art Conservation Project. The company welcomes and encourages applications from not-for-profit cultural institutions with art requiring conservation. The deadline for submissions is Friday, 21 April and applicants can learn how to apply online at http://museums.bankofamerica.com/ more...

2/14/17 9:30 am EST

Bank of America Merrill Lynch Community Development Banking (CDB) provided nearly $4 billion in loans, tax credit equity investments and other real estate development solutions to create housing for individuals, families, veterans, seniors and the previously homeless across the United States in 2016. This effort included:

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10/6/16 11:00 am EDT

The United States Department of Agriculture (USDA) and Bank of America announced today a relending program to provide more than $400 million in long-term, low-cost financing for community development financial institutions (CDFIs) working in impoverished rural and Native American communities.

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6/9/16 9:00 am EDT

To further expand how Bank of America is creating long-term value across Environmental, Social and Governance (ESG) factors, today the company shares progress made to deliver on its purpose of helping make financial lives better for customers, clients and communities around the world.

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5/31/16 9:00 am EDT

Bank of America, (RED)® and world-renowned chef Mario Batali are teaming up in the third annual EAT (RED) SAVE LIVES campaign, rallying families, friends and food enthusiasts across the country to help raise awareness and money for the fight against AIDS. From June 1 through 10, Bank of America will donate 30 cents to the U.S. Fund for the Global Fund to Fight AIDS, Tuberculosis and Malaria for each customer who uses their Keep the Change more...

4/13/16 10:00 am EDT

Bank of America today announced that it is doubling its investment in the Tory Burch Foundation Capital Program (formerly Elizabeth Street Capital) to connect more women small business owners to affordable capital through community development financial institutions (CDFIs). Since the Tory Burch Foundation Capital Program was announced in January 2014, $10 million has been loaned to women entrepreneurs during that two-year timeframe. The bank more...

2/1/16 9:00 am EST

Bank of America Merrill Lynch Community Development Banking (CDB) provided a record-setting $4.5 billion in equity and lending, the most in a single year in its more than 30-year history.

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10/8/15 9:00 am EDT

On Monday, October 12, Vital Voices Global Partnership and Bank of America will launch a weeklong mentorship initiative in Tokyo, convening women leaders from Japan who are engaged in business, social enterprise and non-governmental organizations (NGOs), as well as senior women executives from some of the world’s leading private sector and civil society organizations.

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10/1/15 9:00 am EDT

Bank of America announced today the launch of an online community development financial institution (CDFI) directory to connect small businesses to more capital. This nationwide directory, www.bankofamerica.com/cdfi, will enable entrepreneurs and small business owners to find a CDFI in their community, creating an opportunity to access funding to help grow their businesses. more...

6/24/15 9:00 am EDT

Through its annual Corporate Social Responsibility (CSR) Report released today, Bank of America shares successes and challenges of fulfilling its purpose of making financial lives better for customers, clients and communities through the power of every connection. The report includes details on how CSR is integrated into Bank of America’s business – its policies, practices, services, products and employee benefits.

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3/9/15 10:00 am EDT

Vital Voices Global Partnership and Bank of America today launched a weeklong initiative in Johannesburg, South Africa, connecting women leaders from sub-Saharan Africa engaged in business, social enterprise and NGOs who are actively working to fight HIV/AIDS, to senior women executives from the private sector and civil society who will lend their expertise through mentoring to help the women advance their objectives.

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3/5/15 9:00 am EST

Bank of America Merrill Lynch Community Development Banking provided more than $3.2 billion in loans, tax credit equity investments and other real estate development solutions to over 550 clients in 2014, creating more than 13,000 housing units for individuals, families, seniors, students, veterans and other at-risk groups across the country.

This effort included:

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11/19/14 9:30 am EST

In recognition of global Women’s Entrepreneurship Day, the Tory Burch Foundation and Bank of America today announced the expansion of Elizabeth Street Capital to Los Angeles and throughout Texas, Illinois and Missouri. The initiative, which has a presence in markets across the United States, helps provide women small business owners with access to affordable loans, mentoring support and networking opportunities, enabling them to grow their more...

10/31/14 4:00 am EDT

With 26 social impact bonds (SIBs) currently in operation and dozens more in development globally, the sector is attracting increasing interest from investors seeking to align their values with their investments.

In light of this significant global momentum, a new report launched today by Bank of America Merrill Lynch and Bridges Ventures provides a timely guide to help those involved in the sector set themselves up for success.

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9/30/14 3:33 pm EDT

The U.S. Green Building Council (USGBC) and Bank of America Charitable Foundation announced today the 11 projects selected for the 2014 Affordable Green Neighborhoods (AGN) grant program.

Each of these neighborhood redevelopment projects are pursuing certification under USGBC’s LEED for Neighborhood Development rating system and are notable for their planned affordable housing, compact design, commitment to green building and sites located near transit or other existing amenities.

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9/29/14 8:30 am EDT

Bank of America Merrill Lynch has announced, for the third consecutive year, that in lieu of offering gifts to clients attending the annual Sibos* conference, the company will make a charitable donation on behalf of the delegates. This year, (RED)™, which is focused on generating money and awareness to help end mother-to-child transmission of HIV, will receive the donation.

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8/12/14 2:00 pm EDT

The Bank of America Chicago Marathon today announced that three-time Olympic Gold medalist, 18-time World Championship medalist and current World Record holder in the 5,000m and 10,000m, Kenenisa Bekele (ETH), will compete in his second marathon and first World Marathon Major in Chicago on October 12. In a career spanning nearly 15 years, Bekele, 32, has only raced on American soil – and always on the track – five times.

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6/24/14 9:00 am EDT

Bank of America today published its annual Corporate Social Responsibility (CSR) report, which provides a detailed overview of the company’s environmental, social and economic impact.

“Our CSR program used to revolve around philanthropy – those days are long gone,” said Andrew Plepler, Bank of America Corporate Social Responsibility and Consumer Policy executive. “While grantmaking is still critical, CSR is now a part of everything we more...

5/28/14 3:30 am EDT

Bank of America Merrill Lynch is proud to announce its participation in the Social Mobility Foundation’s City Talent Initiative. With cross-party support from the Rt. Hon. David Lammy MP, Mark Field MP and Baroness Kramer, the initiative encourages high-achieving young people from low-income backgrounds to consider a university education and a career at a leading City firm.

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4/14/14 10:00 am EDT

Today, the Bank of America Chicago Marathon announced that 45,000 entrants were selected to run the 2014 race. The field will be comprised of non-guaranteed lottery entrants and guaranteed entrants, which include time qualifiers, legacy finishers, international tour groups, and charity runners. The 37th annual event will take place on Sunday, October 12, 2014, where participants will compete on the flat and fast Chicago course. more...

4/3/14 9:00 am EDT

Bank of America is investing $10 million in Calvert Foundation to make loans to organizations that support women in developing countries throughout Latin America, Asia, Africa and Eastern Europe. These organizations positively affect women in a number of ways, from connecting women-led, small to medium enterprises (SMEs) with financing to providing access to services and products.

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3/20/14 7:00 am EDT

Bank of America Merrill Lynch and the National Theatre today announced a multi-year partnership in support of NT Future, the National’s £80m redevelopment project which will transform the facilities the theatre offers audiences and artists, enhance its relationship with the environment and place education firmly at the heart of its mission.

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