By Allison Prang

Wells Fargo & Co. said Tuesday it is looking to invest as much as $50 million in African-American minority depository institutions.

The company said a larger chunk of the people in the communities minority depository institutions serve are minorities or people who live in low and moderate income census tracts, compared to other financial firms.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

March 10, 2020 11:53 ET (15:53 GMT)

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