JPMorgan Chase Focuses on Asset-Building in Communities of Color
The mix of funders worried about America's vast racial gaps in wealth and opportunity is increasingly diverse and interesting. Most strikingly, as we've noted, is how more top financial firms now seem to grasp that economic inequality is likely to serve as a long-term drag on their growth and profits. The future of these institutions will be adversely affected if America's growing non-white population can't move faster to build earning power and wealth.
A new partnership between CFED and JPMorgan Chase brings asset building initiatives to multiple cities across the country, starting with New Orleans and Miami. JPMorgan Chase committed to investing $2 million in developing local nonprofit leadership in order to address racial and financial equity issues...