Wells Fargo and T.D. Jakes Group announced a 10-year partnership aimed at “revitalizing neighborhoods” and creating long-term change in communities most in need.

The announcement comes a year after Bloomberg reported that only 47% of Black homeowners who completed a refinance application with Wells Fargo in 2020 were approved, compared with 72% of white homeowners.

The partnership with T.D. Jakes, a prominent Black minister who leads a Dallas-based megachurch, will focus on initiatives including affordable housing, small business development and financial education.

Over the next 10 years, the partnership could result in “up details ⇒

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