Minority banks and credit unions represent only 1% of America’s total commercial banking assets.
“We believe that bringing more capital to these communities can make a meaningful difference for the people and businesses in it, help more families buy their first homes or save college, and start or grow smaller businesses,” Netflix said in a statement. Said.
He told Netflix that he was approaching his organization for the first time on a potential deal after George Floyd’s Minneapolis police officer was killed on May 25th, and this started a national account on systemic racism.
“What I remember is that they reached us after we saw the business we invested in small businesses, especially businesses managed by colorful people,” Jones told CNN Business. Said.
Jones said Netflix is one of the few major companies that have invested in LISC over the past three weeks. He said that the financial institutions that Black owned had “never seen anything like this” support since Floyd’s murder, but stated that support should continue over the years if companies want to close the country’s racial wealth. space.