“Systemic racism is a tragic part of America’s history,” CEO Jamie Dimon said.
JPMorgan Chase pledged $30 billion to help ameliorate the racial wealth gap in the U.S. and “reduce systemic racism against Black and Latinx people,” the firm announced in a statement Thursday.
The investment bank said the $30 billion commitment over the next five years will come in the form of loans, equity and direct funding to promote affordable housing, grow Black and Latinx-owned businesses, improve access to banking in communities of color, and build a more diverse workforce.
“Systemic racism is a tragic part of America’s history,” Jamie Dimon, chairman and CEO of JPMorgan Chase, said 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