HSBC and National Community Reinvestment Coalition (NCRC) Announce $25 Million Partnership to Advance Economic Opportunities in Low- and Moderate-Income
HSBC Holdings, plc. (HSBC)
US:NYSE Investor Relations:
hsbc.com/investor-relations
Company Research
Source: Business Wire
Initiative to Drive Economic Opportunities Through Loans, Grants, and Investments with a Strong Focus on California and Other Key U.S. Markets NEW YORK--(BUSINESS WIRE)--HSBC and the National Community Reinvestment Coalition (NCRC) announced a four-year, $25 million community growth initiative today, as part of HSBC’s broader strategy to drive responsible banking practices and promote financial equity across its U.S. footprint and designed to address concerns raised by NCRC.The partnership, which begins January 2025, aims to expand economic opportunities in low and moderate-income, diverse, and underserved communities through a combination of loan subsidies, community development grants, and philanthropic donations. HSBC’s investment will provide essential support to neighborhoods where financial services have historically been more challenging to access.Highlights of this agreement:HSBC has committed $10 million in loan subsidies to support homebuyers, particularly in low- and mod
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