Wells Fargo Completes Investments in 13 Black-Owned Banks, Fulfilling $50 Million Pledge Made in 2020

Wells Fargo & Company (NYSE: WFC) today announced it has finalized investments in two additional African American Minority Depository Institutions (MDIs): The Harbor Bank of Maryland and Industrial Bank of Washington, D.C. By making these last two equity capital investments, the company has made investments in a total of 13 MDIs and has fulfilled the bank’s March 10, 2020, announcement to commit $50 million to Black-owned banks in communities across the country.