Todd Spangler NY Digital EditorNetflix said it will allocate 2% of its cash on hand — with an initial outlay of up to $100 million — to banks and other financial institutions that directly support Black communities in the U.S.The streamer announced the initiative Tuesday, saying banks led or owned by Black people represent a minuscule portion of the country’s banking assets.“We believe bringing more capital to these communities can make a meaningful difference for the people and businesses in them, helping more families buy their first home or save for college, and more small businesses get started or grow,” Netflix director of talent acquisition Aaron Mitchell and treasury directory Shannon Alwyn wrote in a blog post.Netflix reported.
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