ARTICLE
Structural barriers in the U.S. have created profound racial inequalities that have been exacerbated by the COVID-19 pandemic. The existing racial wealth gap puts a strain on families’ economic mobility and restricts the U.S. economy. Today, JPMorgan Chase is announcing long-term commitments to advance racial equity, drive an inclusive economic recovery and break down barriers of systemic racism. Over the next five years, we will harness our expertise in business, policy and philanthropy and commit an additional $30 billion to provide economic opportunity to underserved communities, especially the Black and Latinx communities. Building on our existing investments, we expect these new efforts to: • Promote and expand affordable housing and homeownership for underserved communities • Grow Black- and Latinx-owned businesses • Improve financial health and access to banking in Black and Latinx communities • Accelerate investment in our employees and build a more diverse and inclusive workforce You can find more details here on how we're addressing the racial wealth divide.