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BMO Commits $40 Billion to Community Investment
Chicago-based BMO Harris Bank on Monday announced a Community Benefits Plan (CBP) that outlines a more than $40-billion commitment to local communities nationwide, including more than $16 billion targeted for California. The plan outlines commitments to local communities across BMO’s expanded footprint in the U.S. after the approval and closing of its proposed acquisition of Bank of the West, announced on December 20, 2021.
The five-year plan was developed with input from more than 85 community groups across the country. It reinforces BMO’s focus on increasing home ownership and supporting the growth of small businesses in low- to moderate-income neighborhoods and communities of color. It also entails investments and lending to support affordable housing and economic development as well as philanthropic giving.
“We are committed to ongoing community engagement to realize the full potential of this plan.,” said David Casper, U.S. CEO, BMO Financial Group.
- ◦Development
- ◦Financing
