Banking Dive, November 15, 2023, First Citizens Unveils Updated $6.5B Community Benefits Plan
The updated plan comes as a “huge relief” for the communities that stood to lose out on the investments following SVB’s collapse in March, Jesse Van Tol, CEO of the National Community Reinvestment Coalition, said in a statement Tuesday.
“First Citizens is honoring SVB’s obligations where others might not have. Their eagerness to listen to and learn from our members, backed with this expansion of our previous community benefits agreement in 2021, should be an example to the industry,” he said. “This is how you show you’re serious about uplifting the most neglected communities in your service area.”
