Morgan Stanley to Invest $10M in NY Loan Fund: Coronavirus Aid Roundup

Starting June 8, golf fans can go to schwabgolf.com to make a monetary donation and be entered into a raffle to win prizes — including autographed memorabilia and "unique once-in-a-lifetime golf experiences," Schwab said. Winners will be announced online during the tournament and PGA Tour players will support the program with special digital and social media content from Colonial throughout the week, it said.

All donations from the program aid the Tour's COVID-19 relief efforts and the 33 local charities the tournament traditionally helps benefit through Birdies for Charity, Schwab said.

It's not Schwab's first COVID-19-related relief initiative. The Foundation for Financial Planning recently launched a COVID-19 Financial Resilience Fund, driven by a $500,000 matching commitment from Charles Schwab Foundation.

Jefferies Contributes $9.25M to Charities

Jefferies announced it donated $9.25 million for COVID-19 relief to more than 85 charities as a result of a firmwide global effort to raise money to honor the memory of its late chief financial officer, Peg Broadbent, who died of the virus.

Through the firm's Global Coronavirus Relief Charity Day held May 27, Jefferies' clients helped to generate $7.65 million in donated net trading commissions, it said. Also, Jefferies as a firm will donate $1 million directly, while voluntary donations from Jefferies' 3,822 employees totaled $600,000, it said.

"The charities selected are both big and small and represent everything from food banks, child care services, assistance with PPE and other medical supplies, support for front line medical workers, assistance for afflicted military personnel, local teen centers, support for police and fire, workforce training and re-training and many other worthy areas that are most in need," the firm said.

Citi to Buy PPP Loans From Minority-Owned Banks

Citi announced a partnership program with the National Banking Association in which Citi has created a purchasing facility allowing it to buy loans in the secondary market from Minority-Owned Depository Institutions originated under the Small Business Administration Paycheck Protection Program.

As part of the program, Citi will purchase up to $50 million of existing SBA approved PPP loans from MDI member banks, including Unity National Bank, with the expectation that other MDI member banks will participate, Citi said.

Citi also recently announced its decision to donate its net profits earned through its own participation in the PPP to the Citi Foundation. Citi and the Citi Foundation had committed more than $65 million in support of COVID-19-related community relief efforts globally, including almost $36 million in charitable contributions from Citi and nearly $30 million in grants from the Citi Foundation, the company said in April.