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Photo: Alex Tai/SOPA Images/LightRocket via Getty Images

Earlier this year, Bank of America committed to spending $1 billion over four years to address racial and income inequality in America, as a reckoning over systemic racism and police brutality took hold of the country. It said in September it would set aside $25 million of that initial sum for jobs initiatives in Black and Hispanic/Latino communities.

Driving the news: Now, we know the bank is giving $1 million to each of 21 colleges and universities with large populations of Black and Latino students: HBCU Morgan State University, St. Louis Community College and the University of Puerto Rico's Río Piedras campus — to name a few.

  • The universities will use the money to create (or expand) job training programs.
  • Bank of America says it will work with local employers to match the training with potential jobs.

That leaves $4 million, which will go to partners to help carry out the program over the next four years, per a spokesperson.

  • $1 million will go to the Aspen Institute, which is in turn collaborating with the National Center for Inquiry and Improvement, to help with "technical and programmatic assistance."
  • The other $3 million is being put aside for other potential partners.

Why it matters: The backlash against the police killings of George Floyd, Breonna Taylor and others pushed corporate America to commit billions of dollars to causes that combat racial inequality — more money than ever before.

Go deeper

Dan Primack, author of Pro Rata
Nov 19, 2020 - Economy & Business

Roblox files for its IPO

Illustration: Aïda Amer/Axios

Roblox, a Silicon Valley-based social gaming platform for tweens and teens, on Thursday filed for a $1 billion initial public offering.

Why it matters: Roblox was big business before the pandemic, but really skyrocketed once kids were stuck at home due to the coronavirus outbreak.

26 mins ago - Health

U.S. exceeds 100,000 COVID-related hospitalizations for the first time

People wait outside the Emergency room of the Garfield Medical Center in Monterey Park, California on Dec 1. Photo: Frederic J. Brown/Getty Images

More than 100,200 Americans were hospitalized as of Wednesday due to the coronavirus for the first time since the outbreak began in early 2020, per the COVID Tracking Project.

The big picture: The milestone comes as health officials anticipated cases to surge due to holiday travel and gatherings. The impact of the holiday remains notable, as many states across the country are only reporting partial data.

4 hours ago - Science

The "war on nature"

A resident stands on his roof as the Blue Ridge Fire burned back in October in Chino Hills, Calif. Photo: Jae C. Hong/AP

Apocalyptic weather is the new normal because humans are "waging war on nature," the UN declared on Wednesday.

What they're saying: "The state of the planet is broken," said UN Secretary-General António Guterres, reports AP. “This is suicidal.”