Bank of America Corp. on Tuesday announced plans to invest $500 million in inner-city businesses as part of President Clinton's push to fight poverty.

At a ceremony with the President in East St. Louis, Ill., Catherine P. Bessant, president of the bank's community development banking group, unveiled the Bank of America Catalyst Fund.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.