National Mortgage News, January 28, 2022, Citi works with Black-owned firms on $2.5B affordable housing bond
Banks are judged on their Community Reinvestment Act performance and Citi is not the only one to step up its support in this area recently. New York Community Bank entered into a deal with the National Community Reinvestment Coalition to provide $28 billion in loans and other support to neighborhoods and small businesses. NYCB is awaiting approval to merge with Flagstar Bancorp and this agreement could help win government support for the transaction.
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Overall, since 2015, Citi has worked with over 30 firms owned by minorities, women and veterans totaling more than $150 billion in bond issuance.
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