Banks Consider Banding Together to Help Baltimore's Distressed Neighborhoods

Baltimore Business Journal
Tuesday, May 5, 2015

Maryland bankers want to coordinate their efforts to help Baltimore businesses return to normal operations after protests that drew national attention to dynamics of inequality in the city. Bank leaders associated with the Maryland Bankers Association are considering making contributions through their foundations and boosting microloan programs. There's also been talk of working with larger economic-development-focused entities like the federal government's CDFI Fund or the Federal Home Loan Bank of Atlanta. "There's the longer-term question around what can be done to help in terms of the underlying challenges," said Maryland Bankers Association CEO Kathleen Murphy. Murphy identified transportation, jobs and education as core challenges facing Baltimore.