World »  Topic »  Netflix is investing $100 million in Black-owned banks

Netflix is investing $100 million in Black-owned banks


The streaming service announced plans to deposit 2% of its cash, or an estimated $100 million, into Black-owned financial institutions and community development organizations, which have a better track record of lending to minority borrowers than mainstream consumer banks.

Minority-owned banks and credit unions represent just 1% of America's total commercial banking assets.


Read the full text cnn.com