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Community Development

2/14/13 5:00 am EST

Through its delivery of lending, tax credit equity investments and real estate development solutions, Bank of America Merrill Lynch in 2012 provided more than $2.6 billion for community development – commitments that will help create nearly 11,000 affordable housing units.

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2/12/13 3:48 am EST

People who are looking to return to work after three or more years away to care for their family are invited to apply for a place on Bank of America Merrill Lynch’s “Returning Talent” programme. Now in its second year, this unique programme aims to help bridge the gap between being a stay-at-home parent or carer and re-entering the world of work.

The bank is looking to attract applicants from a range of professional backgrounds including finance, legal and professional services.

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12/10/12 4:00 am EST

Bank of America today committed $20 million in new funding for 13 Community Development Financial Institutions (CDFIs) to provide financing for small businesses and residents affected by Hurricane Sandy. CDFIs are private sector financial institutions that finance affordable housing, small businesses, community facilities, and economic revitalization programs.

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8/16/12 12:48 pm EDT

The Bank of America Charitable Foundation today announced that during the first six months of 2012, it awarded $274,200 in grants to Portland-area nonprofits. The grants focus significantly on neighborhood revitalization, with $158,000 going to local community development nonprofits focused on building and rehabilitating affordable housing facilities, foreclosure prevention services and homeowner counseling, and providing other services intended more...

8/16/12 6:00 am EDT

As part of its goal to help revitalize communities through lending, tax credit equity investments and real estate development, Bank of America Merrill Lynch in the first half of 2012 provided $855 million in financing and investments for community development – a commitment that help create more than 2,800 affordable housing units.

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8/15/12 5:00 am EDT

Bank of America today released its annual Corporate Social Responsibility (CSR) Report to provide an overview of the social and environmental impact of its businesses and efforts to create value for shareholders, customers and clients, and the communities it serves.

The report highlights the progress made to deliver fai more...

6/11/12 1:30 am EDT

Bank of America today announced a new 10-year, $50 billion environmental business goal to help address climate change, reduce demands on natural resources and advance lower-carbon economic solutions. The company also introduced significant new goals to reduce the environmental impact of its own operations.

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5/31/12 4:08 am EDT

Hundreds of London-based Bank of America Merrill Lynch employees are volunteering their time to support a host of local community projects in Tower Hamlets. Their efforts are part of a companywide initiative encouraging employees to contribute more than 1.5 million volunteer hours globally in 2012.

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5/12/12 4:08 am EDT

The U.S. Green Building Council (USGBC) and the Bank of America Charitable Foundation today announced the opening of the 2012 Affordable Green Neighborhoods Grant Program.

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4/2/12 7:42 am EDT

The Bank of America Charitable Foundation announced today that it is inviting nonprofit organizations throughout the United States to submit funding proposals for programs that address the nation’s ongoing housing challenges. The company will invest $15 million to support impactful local and national programs and services addressing housing issues, including foreclosure counseling and mitigation, neighborhood stabilization, and affordable more...

3/12/12 4:08 am EDT

Registration for the 2012 Bank of America Shamrock Shuffle 8K, the world’s largest 8-kilometer road race, closed today when the 40,000-participant capacity was reached, matching the largest field of registrants in the event’s 33-year history. Registration for the March 25 event opened on January 1. The Bank of America Shamrock Shuffle 8K is a tradition that serves as the kickoff to Chicago’s outdoor running season, which will culminate with the more...

5/24/13 10:10 am EDT

CHARLOTTE, N.C.--(BUSINESS WIRE)--Bank of America today announced the selection of Community Development Financial Institutions (CDFIs) that will receive $55 million in low-interest loans and grants through the company’s innovative Energy Efficiency Finance Program.

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5/24/13 10:10 am EDT

CHARLOTTE, N.C.--(BUSINESS WIRE)--As the national teen unemployment rate hovers at 24 percent, Bank of America is partnering with 95 nonprofit organizations to put 230 civic-minded high schoolers to work across the country this summer as part of its Student Leaders program. Funded by the Bank of America Charitable Foundation, the program matches local nonprofits with Student Leaders for a paid, eight-week internship.

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5/24/13 10:10 am EDT

CLEVELAND--(BUSINESS WIRE)--Bank of America has entered an agreement with the Cuyahoga County Land Reutilization Corporation (Cuyahoga Land Bank) to help alleviate the impact of vacant properties on surrounding neighborhoods and the community at large. The bank will donate up to 100 vacant foreclosed properties to the Land Bank for reuse, redevelopment and neighborhood revitalization, reducing urban blight.

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5/24/13 10:10 am EDT

CHARLOTTE, N.C.--(BUSINESS WIRE)--In its ongoing effort to provide capital that helps reduce carbon emissions and energy consumption, Bank of America today announced a new $55 million program to encourage energy efficiency improvements to older buildings. The new competitive program will provide low-cost loans and grants to Community Development Financial Institutions (CDFIs) specializing in financing energy efficiency improvements.

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5/19/11 4:08 am EDT

Bank of America announced today that it provided $168.5 billion in community development loans and investments in 2010, benefitting low- and moderate-income (LMI), minority and underserved customers and communities. This capital translates, on average, to approximately $661 million every business day throughout the past year and continues the progress against a 10-year, $1.5 trillion community development goal Bank of America initiated in 2009. more...

5/24/13 10:10 am EDT

CHICAGO--(BUSINESS WIRE)--Chicago Mayor Richard M. Daley and Bank of America’s Illinois Market President Tim Maloney today announced that the bank is taking several actions in partnership with the city to alleviate the impact of vacant properties on surrounding neighborhoods and the community at large. The initiatives include the donation of the vacant foreclosed properties by Bank of America to the city and nonprofit organizations for reuse, more...

5/24/13 10:10 am EDT

CHARLOTTE, N.C.--(BUSINESS WIRE)--Bank of America today announced it has provided 40 grants totaling more than $3.7 million to Community Development Financial Institutions (CDFIs) and other nonprofit lenders that will enable them to access federal microloan programs. Bank of America recently began awarding $10 million in grants to nonprofit lenders for use as loan loss reserves, which could unlock as much as $100 million in low-cost, long-term capital more...

5/24/13 10:10 am EDT

CHARLOTTE, N.C.--(BUSINESS WIRE)--Bank of America today announced it received the highest rating of “outstanding” from the Office of the Comptroller of the Currency following its most recent Community Reinvestment Act (CRA) exam.

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5/24/13 10:10 am EDT

WASHINGTON--(BUSINESS WIRE)--Bank of America today announced it will provide $10 million in grants to nonprofit lenders, such as Community Development Financial Institutions (CDFIs), to leverage funds from the U.S. Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA) for lending to small and rural businesses. The grants, for use as loan loss reserves, may unlock as much as $100 million in low-cost, long-term capital for small more...

5/24/13 10:10 am EDT

LOS ANGELES--(BUSINESS WIRE)--The Initiative for a Competitive Inner City (ICIC) and Bank of America announced today the open call for nominations for the Inner City Capital Connections (ICCC) program, which educates investment-ready inner city companies about equity and other sources of growth capital, and matches them with potential investors.

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5/24/13 10:10 am EDT

CHARLOTTE, N.C.--(BUSINESS WIRE)--Bank of America today released the first-year results of its 10-year, $1.5 trillion community development goal to lend and invest in underserved communities. Initiated in 2009 as the largest community development goal ever established by a U.S. financial institution, Bank of America provided $168.2 billion in community development lending and investments primarily benefitting low- and moderate-income (LMI) communities more...

3/1/10 3:08 am EST

Bank of America, a longtime partner of ACCION New Mexico ∙ Arizona ∙ Colorado (ACCION), has increased its commitment in support of small business by raising its Program Related Investment (PRI) in ACCION from $2.5 million to $3.5 million. Program Related Investments are used to increase the financial capacity of charitable organizations, including community development financial institutions such as ACCION.

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1/11/10 3:08 am EST

Before they compete in the 2010 Pro Bowl on Sunday, January 31, some of the NFL’s biggest stars will come together as one team Thursday, January 28, in the largest community program in the league’s history. Following morning practices Pro Bowl players, coaches and Bank of America community volunteers will spend the afternoon working to improve the South Florida community as part of the first-ever “NFL PLAY 60 Community Blitz” in more...