2/23, 6:14 PM (Source: TeleTrader)
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JPMorgan establishes support initiative for Black-led banks

JPMorgan Chase announced on Tuesday its latest round of special support initiatives focused on financial institutions primarily owned or directed by people of color as part of its $30 billion strategy in order to help combat wealth inequality.

The bank said that "these new initiatives are focused on strengthening minority-owned and diverse-led financial institutions by providing additional access to capital, connections to institutional investors, specialty support for Black-led commercial projects and mentorship and training opportunities."

The company also established a racial equity program, by providing New Markets Tax Credit investment pricing for Black-led, Black-owned and Black-serving nonprofits and businesses.

Breaking the News / TF