Posted on June 6, 2005

Wachovia Agrees To Contribution in Wake of Slavery Report

AP, June 3, 2005

The nation’s fourth-largest bank will make a financial contribution for black history education following its public apology for reaping past profits from slavery, Wachovia Corp. said Friday.

Charlotte-based Wachovia, which apologized Wednesday, agreed to make a financial commitment but provided no details.

“We didn’t want to create the appearance that we were putting a price on the harm done to people by slavery,” bank spokeswoman Carrie Ruddy said. “We decided it was not the right time.

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[Editor’s Note: For more on this story, click here.]

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