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November 10, 2009

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Bank of America’s minority spending

Monday, March 27, 2000 | 10:47 a.m.

Bank of America's Minority Business Development Group said it spent $400 million nationwide last year procuring goods and services from minority-owned firms.

During that same period, the bank's Nevada operations spent about $335,000 in purchases from minority-owned businesses.

Last year, B of A committed to spend 15 percent of its total procurement budget with minority-owned businesses. The bank also mandated that companies doing business with B of A spend at least 15 percent of their purchasing budget with minority companies.

B of A's Minority Business Development Group started in 1990 with a procurement budget of about $11 million.

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