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Citigroup promises $1bn to close US racial wealth gap

September 29, 2020

Citi’s new three-year initiative focuses on providing greater access to banking and credit in Black majority communities.

The bank also plans to expand its investment in Black-owned businesses and see more Black Americans owning homes.

“We are in the midst of a national reckoning on race, and words are not enough,” says Mark Mason, Citi chief financial officer. “The commitments we are announcing today are just the starting point.”

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