Innovation In Compliance With Tom Fox

Tom Fox welcomes John Petrovski, the Senior Director of Commercial Lending at BMO, to this week's episode. Tom and John discuss BMO's new business initiative BMO Empower, and its efforts to help low moderate income and minority communities. Promoting Economic Diversity BMO Empower’s mission is to promote inclusive economic recovery through six main initiatives. All their initiatives are geared towards financing black and Latinx owned businesses, as well as low income and women-owned businesses. BMO Empower provides financing for their business growth, as well as financial education. John explains how the money is distributed throughout the six initiatives that make up BMO Empower. Supplier Diversity John stresses the importance of supplier diversity. He feels that BMO ought to have more minorities among their supplier list especially since the company has been around for more than two centuries. A way he's sought to rectify this is through targeting and expressly buying from minority and women-owned busines