Wells Fargo announced on Feb. 1 that it has granted the NAACP $50 million to support the organization’s continuing efforts to advance racial equity in America.

“We’re grateful to Wells Fargo for their donation, the single largest donation the NAACP has ever received from a corporation,” said Derrick Johnson, NAACP president and CEO. “These funds will go directly toward strengthening the NAACP’s grassroots network of local units and branches across all 50 states, as well as the work of the national NAACP. All corporations play a critical role in our democracy. They must be engaged as allies in the fight to end discrimination—in our economy, in our justice system, across our society, and within their own services.”

Wells Fargo CEO Charlie Scharf said his bank is pleased to support the NAACP.

“We value our longstanding relationship with the NAACP, and this grant is meant to strengthen the work we already do together to close economic gaps that have existed for far too long in our country,” Scharf said.

James Wright Jr.

James Wright Jr. is the D.C. political reporter for the Washington Informer Newspaper. He has worked for the Washington AFRO-American Newspaper as a reporter, city editor and freelance writer and The Washington...

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