Bank of America Corp (NYSE:BAC) announced results of its new study exploring pay-for-success programs. It also explored social financing along with impact investing. These are in an effort to improve and expand social services for veterans. The title of the study is “Improving Outcomes For Veterans: Assessing Pay for Success Opportunities.” The findings were recently published by Bank of America. The findings were revealed to senior government officials at the George Bush Institute’s Military Initiative Summit. The summit was held in Dallas.
At the event Bank of America plans to also share the data with the Wounded Warrior Project. This is to explore the possibilities of utilizing the PFS program to expand the workforce services for veterans. Wounded Warrior is a project that helps veterans that have been crippled to acclimate to normal life and also find employment. The services are critical to these veterans and often a last chance for many of them. Bank of America Corp (NYSE:BAC) has identified new and innovative methods for delivering these services through the study. The veteran population has suffered because of failures with the Veterans Administration and the handling of their rehabilitation and acclimation to civilian life.
The program gives investors a chance to redirect capital to assist with veterans’ programs and provide needed capital to accomplish this. The effort is to scale programs to allow them to have a more effective impact. 22 million veterans live in the US and some 300k more are expected to leave the military over the next five years. This will put even more strain on the services available to them and if this study can discover ways to streamline the services it could be extremely useful. Sufficient metrics will be required to attain this level of service and capability.
The stock is in a wide channel and needs to break resistance at $17.08. Once it does it can make an attempt at the recent highs and resume orderly trading.