The Clinton administration's push to promote inner-city businesses took a new turn Thursday as the secretary of the Treasury called on large financial institutions to serve as mentors to their smaller counterparts and customers.

Lawrence H. Summers, in one of his first public appearances since assuming his post July 2, applauded the willingness of lenders to finance community development, but said more steps are needed.

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.