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JPMorgan reveals the latest part of its $30 billion commitment to support Black and brown communities

Added 02-25-21 12:14:03am EST - “Brian Lamb, JPMorgan's head of diversity and inclusion, spoke about the firm's vision for racial equity and where the money is going.” - Businessinsider.com

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Posted By TheNewsCommenter: From Businessinsider.com: “JPMorgan reveals the latest part of its $30 billion commitment to support Black and brown communities”. Below is an excerpt from the article.

On Thursday, JPMorgan announced a new wave of investments as part of its $30 billion commitment to lift up Black, Latinx, and other underserved communities. Latinx is a gender-neutral alternative to Latino or Latina to describe people of Latin American descent. 

The plan, which was announced in October of last year, appears to be the largest US corporate commitment to racial equity in the wake of George Floyd's murder, according to Insider research.

The latest round will focus on Black and brown entrepreneurs and small business owners, according to the financial giant.

"We look at diversity and inclusion as a business," Brian Lamb, JPMorgan's global head of diversity and inclusion, told Insider. "We want to drive sustainable change." 

The firm said it would commit $300 million to support underserved small businesses and an additional $42.5 million to its "Entrepreneurs of Color Fund," a program that supports Black and brown founders. 

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