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JPMorgan Chase is making massive $30 billion investment in racial equity in the US | The Hill

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JPMorgan Chase is making massive $30 billion investment in racial equity in the US | The Hill

The financial giant recently pledged similar funding to alleviating climate change.

Alexandra Kelley, The Hill

Days after announcing a major financial climate initiative, financial leader JPMorgan said it will commit $30 billion over the next five years that will be specifically allocated toward Black and Latino communities.

The funding, which follows Black Lives Matter protests’ calls for an end to racist socioeconomic redlining, aims to help communities of color financially recover from the COVID-19 pandemic.


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JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City. JPMorgan Chase is ranked by S&P Global as the largest bank in the United States and the seventh largest bank in the world by total assets, with total assets of US$3.213 trillion. It is also the world’s most valuable bank by market capitalization. JPMorgan Chase is incorporated in Delaware.

As a “Bulge Bracket” bank, it is a major provider of various investment banking and financial services. It is one of America’s Big Four banks, along with Bank of AmericaCitigroup, and Wells Fargo. JPMorgan Chase is considered to be a universal bank and a custodian bank. The J.P. Morgan brand, is used by the investment bankingasset managementprivate banking, private wealth management, and treasury services divisions. Fiduciary activity within private banking and private wealth management is done under the aegis of JPMorgan Chase Bank, N.A.—the actual trustee. The Chase brand is used for credit card services in the United States and Canada, the bank’s retail banking activities in the United States, and commercial banking. Both the retail and commercial bank and the bank’s corporate headquarters are currently located at 383 Madison Avenue in Midtown ManhattanNew York City, while the prior headquarters building directly across the street, 270 Park Avenue, is demolished and replaced with a new building. The current company was originally known as Chemical Bank, which acquired Chase Manhattan and assumed that company’s name. The present company was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.

Source – JPMorgan Chase (Updated: 08 October 2020) Wikipedia. Available at, (Accessed: 15 October 2020)