In a move aimed at leveling the economic playing field for working-class New Yorkers, Mayor Eric Adams' administration has taken a significant step in expanding access to capital for underserved communities. Mayor Eric Adams and Comptroller Brad Lander, in partnership with Ponce Bank, have deposited $20 million into the community development financial institution. This strategic investment is expected to provide much-needed financial services, including affordable loans and financial education, to residents of the city's most economically vulnerable neighborhoods. By increasing access to capital and promoting financial inclusion, the city hopes to empower low-income households to achieve economic stability and build a more equitable future for all.
Mayor Mamdani and Comptroller Levine Deposit $20 Million in Ponce Bank, Expanding Access to Capital for Working Class New Yorkers NYC.gov
