The PNC Financial Services Group, Inc. (NYSE: PNC) today announced a commitment of more than $1 billion to help end systemic racism and support economic empowerment of African Americans and low- and moderate-income communities.
"We are living in one of the most important civil rights movements of our time. Each of us has a role to play in combatting racism and discrimination, and PNC is committed to driving real change in areas in which we can make the greatest impact," said Chairman, President and Chief Executive Officer William S. Demchak.
PNC has a long history of supporting economic empowerment efforts. The company has earned an "Outstanding" rating under the Community Reinvestment Act since those examinations began more than 40 years ago, and has been nationally recognized for the impact of PNC Grow Up Great®, a bilingual multi-year initiative launched in 2004 that helps prepare children from birth to age 5 for success in school and life, with a particular emphasis on helping children, families and others in diverse and low- and moderate-income neighborhoods.