Wells Fargo to donate all $400M in processing fees from PPP to help minority-owned businesses

Wells Fargo & Co. (NYSE: WFC) unveiled the details of how it plans on donating the $400 million it generated in fees from processing Paycheck Protection Program loans, a promise the CEO had made back in April, during the early days of the U.S. Small Business Administration relief program when the bank had made a series of fumbles that led to widespread criticism. Jenny Flores, head of small business philanthropy at Wells Fargo, told the San Francisco Business Times the donation is part of an ongoing…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal https://www.bizjournals.com/charlotte/news/2020/07/09/wells-fargo-to-donate-400m-ppp-small-business.html?ana=RSS&s=article_search