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JPMorgan Chase Commits $30 Billion to Advance Racial Equity
Jamie Dimon (MBA 1982)
Jamie Dimon (MBA 1982)
This week, JP Morgan Chase announced that it would commit “an additional $30 billion over the next five years to provide economic opportunity to underserved communities, especially the Black and Latinx communities.”
“Systemic racism is a tragic part of America’s history,” Chairman and CEO Jamie Dimon (MBA 1982) said in a release. “We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latinx people. It’s long past time that society addresses racial inequities in a more tangible, meaningful way.”
The release notes that the firm’s commitment will focus on promoting and expanding affordable housing and homeownership for underserved communities; growing Black- and Latinx-owned businesses; improving financial health and access to banking in Black and Latinx Communities; and accelerating investment in its employees and building a more diverse and inclusive workforce. JP Morgan Chase also announced a commitment of $2 billion over the next five years to “to drive an inclusive economic recovery and support Black, Latinx, and other underserved communities.”
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