Bank of America's Hatfield on Helping Local Communities Address Economic and Racial Inequality
Chamber President Laurie White recently spoke with William Hatfield, Market President for Bank of America in Rhode Island. As the senior executive for RI, he champions Bank of America’s local environmental, social and governance performance to promote sustainable growth that creates shared success for customers, employees and the community.
Bill and Laurie explored the details of Bank of America's $1 billion/4-year commitment of additional support to help local communities address economic and racial inequality accelerated by the global COVID-19 pandemic.
The work builds on economic mobility and workforce development programs Bank of America already supports in local markets, but will sharpen the focus of that work, accelerate the resources, and add a particular emphasis on health services during the pandemic.Quote of Note
"Yes, our commitment is a big one. It's a bold one. We are going to be taking a very active role in it. But we know that we will only be successful if we come together with others who are like minded and view the opportunity as we do and are prepared to invest resources and energy to drive change and create opportunity."
Hatfield also discussed:
- Bank of America's $100 million in philanthropic COVID-19 community grants
- Current market conditions
- New consumer trends
- The outlook for an economic recovery in the coming months
- Community-based small business lending