US bank pledges $30m to low-income communities across the country

An agreement between a coalition of community organisations and US bank Fifth Third has resulted in a commitment of $30 billion for low-income communities across five years. The plan covers financing for small business lending, community development lending and mortgages, as well as philanthropic donations. So far, Fifth Third says it is on course to deliver its commitments, which are guided by the principles of the 1977 Community Investment Act.