A New Standard for Equity Investments

Fifth Third Bank is investing $2.8 billion in its Accelerating Racial Equality, Equity and Inclusion initiative.

1 minute read

December 20, 2020, 7:00 AM PST

By Diana Ionescu @aworkoffiction


Ohio-based Fifth Third Bank announced a $2.8 billion investment into its Accelerating Racial Equality, Equity and Inclusion initiative, including $2.2 billion dedicated to loans. The bank outlined a three-year plan that focuses on customers, employees, and local communities with targeted outcomes in four areas: strategic investments, access to capital, financial inclusion and education, and social justice and advocacy. The plan is part of the bank's long-term goal to improve economic outcomes and create a more equitable environment for Black Americans.

The bulk of Fifth Third's investment will go towards expanding access to capital for home loans and businesses, hoping that improved opportunities will help Black families create wealth and financial stability. Along with loans, the bank will invest in tools for financial education and accessibility for the unbanked. Priscilla Almodovar, chief executive officer of Enterprise Community Partners, praised the bank for "acting boldly and decisively" in a critical time. Through such investments, organizations like hers that work on housing issues have increased support.

The bank's plans extend to its own company culture, with a set of goals aimed at increasing equity and inclusion within its workforce that include unconscious bias training, ensuring its workforce reflects the diversity of the community it serves, and eliminating disparities in the work environment.

Monday, December 7, 2020 in Business Wire

Aerial view of Oceanwide Plaza skyscrapers covered with graffiti tags.

LA’s Abandoned Towers Loom as a “$1.2 Billion Ruin of Global Capital”

Oceanwide Plaza, shuttered mid-construction after its developer filed for bankruptcy, has stood vacant on prime Los Angeles real estate since 2019.

May 21, 2024 - The Architect's Newspaper

Entrance to a drive-through car wash at night with green 'Enter' sign.

Ohio Towns Move to Ban New Car Washes

City officials in northeast Ohio are putting limits on how many car wash facilities can open in their towns.

May 16, 2024 - News 5 Cleveland

Acela train at Wilmington station in Wilmington, Delaware.

The Passenger Rail Revival Is Here

For the first time in decades, multiple rail projects are moving forward that could have a transformative impact on train travel in the United States.

May 21, 2024 - Route Fifty

California Governor Gavin Newsom announcing funding for tiny home shelter project in front of quick-build tiny home shelter unit.

California’s Tiny Home Pledge Still on Paper, One Year Later

A promise to fund 1,200 tiny homes for unhoused residents in four cities as a way to rapidly and cost-effectively provide shelter has yet to yield tangible results, but projects are moving ahead in some cities.

May 24 - CALmatters

Residential neighborhood in Colorado with fall foliage and snowy mountains in background.

Colorado Ends Non-Family Occupancy Limits

Local jurisdictions will no longer be able to limit how many unrelated adults can live in a household, a move that supporters say will help lower housing costs and help older adults supplement their incomes and stay in their homes.

May 24 - Strong Towns

A white crosswalk painted by Crosswalk Collective LA in Los Angeles, California.

Guerilla Urbanism Spurs Action From Cities

Rather than take a hostile approach to DIY urbanism, some cities are using guerilla efforts as an opportunity to understand critical infrastructure gaps.

May 24 - Smart Cities Dive

News from HUD User

HUD's Office of Policy Development and Research

Call for Speakers

Mpact Transit + Community

New Updates on PD&R Edge

HUD's Office of Policy Development and Research

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.