Photo: Getty Images/Illustration: Chloe Krammel Almost a year after the death of George Floyd, major banks and asset managers are committing billions towards addressing the effects of racial disparities in financial services. On Tuesday, eighteen financial institutions including BlackRock, Morgan Stanley, Goldman Sachs Group, Bank of America, and Citigroup agreed to set aside $10 billion for businesses owned by people of color over the next five years. The money is meant to benefit underrepresented founders through increased contracting, funding, and capability-building, with the goal of driving $30 billion in economic impact. The institutions, which control $27 trillion in assets and employ 750,000 people globally, are members of the Corporate Call to Action: Coalition for Equity & Opportunity (CCA), also referred to as the CEO Coalition. It's a corporate social justice initiative launched in September 2020 by the Connecticut Office of the Treasurer and the Ford Foundation, a private foundation aimed at improving human welfare.