Black People : JPMorgan Chase is making a $30 billion commitment to help address U.S. wealth in equality, in underserved Black and Latino Communities

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Alonewolf
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Jul 2, 2003
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JPMorgan Chase is making a $30 billion commitment it says will help address U.S. wealth inequality, especially in traditionally underserved Black and Latino communities
  • The bank’s pledge is a combination of loans, investments and philanthropy over five years that it says goes beyond what it would do in the normal course of business.
  • The great bulk of JPMorgan’s dollar commitment is tied to housing: The bank says it will provide $14 billion in loans and investments for 100,000 affordable rental units and make $12 billion in mortgages it wouldn’t otherwise.
  • “Systemic racism is a tragic part of America’s history,” said Jamie Dimon, CEO of JPMorgan.
“Systemic racism is a tragic part of America’s history,” said Jamie Dimon, CEO of JPMorgan, in a statement. “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.”
 

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