Wells Fargo awards $ 1 million to help Asian and Pacific Islander communities

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WASHINGTON–(BUSINESS WIRE) – Wells Fargo is awarding $ 1 million in grants to support the Asian and Pacific Islander American (AAPI) community and small businesses in response to the COVID-19 pandemic and the recent increase in anti-Asian hatred, discrimination and violence.

Wells Fargo grants are awarded to four organizations: the Asian and Pacific Islands American Chamber of Commerce and Entrepreneurship (National ACE), OCA – Defenders of the United States of Asia and the Pacific (OCA), Pan-Asian American Chamber of Commerce of the United States (USPAACC), and Asian Americans Advance Justice | AAJC. This investment is part of the company’s long-standing commitment to the AAPI community and our employees, and in recognition of United States of America and Pacific Island Heritage Month.

“The $ 1 million commitment was shaped by listening and learning from our community partners and employees to support ongoing efforts to advance meaningful and tangible solutions that will have a positive impact in the AAPI communities we serve, ” said Kleber Santos, Head of Various Segments, Representation and Inclusion. “Against the backdrop of the worrying increase in anti-Asian sentiment and violence, this year’s United States of America and Pacific Islands Heritage Month takes on added significance and significance to us as ‘business. We will continue to stand in solidarity with the AAPI community and use our voice and resources at the local and national levels to help advance inclusion and individual well-being in all of our diverse communities.

The four organizations will use Wells Fargo grant funds, each in varying amounts, to help the AAPI community and small businesses in several ways:

  • National ACE – Dollar grants will support a number of organizational efforts designed to assist AAPI’s small businesses, including training small business owners on responding to hate incidents and anti-Asian harassment on the workplace. The program will also include surveys to better understand the impact of anti-Asian sentiment and help policymakers improve support for AAPI’s small business communities.
  • OCA – Defenders of the United States of Asia and the Pacific – OCA will use support from Wells Fargo to empower OCA chapters across the country and improve their local programming and outreach in AAPI communities. OCA will expand its Advocates in Action program, which addresses anti-Asian hate incidents through a series of situational awareness workshops and webinars on allies, anti-racism, state history United of America and social media campaigns.
  • USPAACC – USPAACC will provide grants to local AAPI chambers of commerce across the country to help them in their efforts to support small Asian businesses that have been affected by COVID-19 and economic hardship. The organization will support AAPI and other minority-owned businesses with education, training, counseling, technical assistance, business development, referral and advocacy services. Efforts include the creation of a Procurement Opportunity Center (POC) designed to help AAPI small businesses that are struggling to enter and succeed in federal contracting.
  • Asian Americans Advance Justice – The AAJC will use grants to support anti-Asian hate efforts, including increased racism and discrimination awareness against Asian Americans who are wrongly blamed for the coronavirus. These efforts include a public awareness campaign to fight coronavirus-related violence and discrimination.

The funds provided for these organizations are in addition to Wells Fargo’s ongoing support to the AAPI community, focused on financial education, college scholarships, small business support, language services and institutional support and Asia-focused local and national non-profit organizations. Since 2016, Wells Fargo has donated more than $ 140 million to nonprofits, educational programs and schools that serve Asian communities. Additionally, since 2019, Wells Fargo has achieved more than $ 2.6 billion in spend with certified diversified vendors, including more than $ 820 million with Asian companies.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company with approximately $ 1.9 trillion in assets and proudly serving one in three U.S. households and over 10% of all middle market businesses and small businesses in the United States. set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four operational segments to present: consumer banking and loans, commercial banking, corporate banking and investment, and wealth and investment management. Wells Fargo is ranked 30th in the Fortune 2020 ranking of America’s largest companies. In the communities we serve, the business is focusing its social impact on building a sustainable and inclusive future for all by supporting affordable housing, small business growth, financial health and a low-emission economy. carbon. Wells Fargo news, information and insights are also available at Wells Fargo Stories.

Additional information can be found at www.wellsfargo.com | Twitter: @Wells Fargo.

Caution regarding forward-looking statements

This press release contains forward-looking statements about our financial performance and future business. Because forward-looking statements are based on our current expectations and assumptions about the future, they are subject to inherent risks and uncertainties. Do not place undue reliance on forward-looking statements, as actual results could differ materially from expectations. Forward-looking statements speak only as of the date they are made and we do not undertake to update them to reflect changes or events occurring after that date. For more information on factors that could cause actual results to differ materially from our expectations, see our reports filed with the Securities and Exchange Commission, including the discussion of “forward-looking statements” in the Wells Fargo’s most recent Quarterly Report on Form 10-Q as well as other Wells Fargo reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, available on its website at www.sec.gov1.

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