- Wells Fargo & Company announced equity investments in five African American Minority Depository Institutions, or MDIs
- As part of the equity capital investment, Wells Fargo also offering access to a dedicated relationship team
- The country’s MDIs vital to minority communities, but over the last two decades, many have declined or closed
- Wells Fargo making its nationwide ATM network available for customers of these 11 MDIs to use without incurring fees
- The partnership enhances the ability to deploy more capital in markets and beyond
- Wells Fargo’s financial commitments in the form of critical equity capital, foundational to the MDIs’ ability to expand lending
Wells Fargo: Invests in five additional black-owned banks
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