Scale back is focused on ESG, diversity, environment, and social issues
Internal memo stated last week that management is changing the word "equity" to "opportunity"
The bank plans to hire 75 community managers by 2030 to serve areas with limited banking access
Five-year community benefit plan will improve access to credit and affordable housing
Other banking industry organizations applauded the Treasury Department for working with the industry on revisions
Bank announces $6.5 billion program including commitments to honor SVB’s pre-collapse pledges
New research from the New York Fed shows CDFI assets in excess of $450 billion
They have increased access to financial services in rural, urban, and under-resourced communities by 11% in 12 months
Viewed as a critical component of the roadmap to driving economic mobility and financial access for those most in need
Study ranks 163 impact investment groups running more than $122 billion in total assets
