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JPMorgan and Google launch program to help minority-owned banks

JPMorgan and Google launch program to help minority-owned banks JPMorgan Chase and Google launched a program Tuesday to help banks owned and led by people of color increase their lending capabilities. The new initiative is dubbed “Empowering Change.” It’s designed to help banks that are majority-owned or directed by people of color provide JPMorgan-backed money market funds to large companies. Most minority depository institutions wouldn’t have the resources to service those companies otherwise. The program offers the same services to minority-led community development financial institutions, which offer credit to underserved markets typically overlooked by mainstream lenders. JPMorgan says Empower Change will give minority-owned banks access to corporate clients, providing new revenue streams that can help these banks better serve their communities.

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JPMorgan creates investment product for black-owned banks

JPMorgan creates investment product for black-owned banks File Photo: JPMorgan also said it will offer favorable terms to Black-owned, Black-led and Black-serving businesses and nonprofits (REUTERS)Premium . Updated: 23 Feb 2021, 07:32 PM IST Bloomberg JPMorgan said it will share the assets and fees generated from the offering with the banks that distribute it, and will donate 12.5% of the annual revenue it makes from management fees to efforts aimed at boosting community development It said Google has promised to invest $500 mn in the special money market share class Share Via Read Full Story JPMorgan Chase & Co. developed an investment product for Black-owned banks and made equity investments in four minority depository institutions, part of an earlier pledge to help address the US racial wealth gap.

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JPMorgan To Support Minority-Owned And Diverse-Led Financial Institutions

JPMorgan To Support Minority-Owned And Diverse-Led Financial Institutions
finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.

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JPMorgan and Google launch program to help minority-owned banks

JPMorgan and Google launch program to help minority-owned banks
henryherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from henryherald.com Daily Mail and Mail on Sunday newspapers.

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Wells Fargo Invests in Six Black-Owned Banks - Los Angeles Sentinel

Wells Fargo Invests in Six Black-Owned Banks By Sentinel News Service Investment is part of a $50 million pledge to help minority institutions and the bank’s larger commitment to foster an inclusive recovery “Wells Fargo’s financial commitments are in the form of critical equity capital, which is foundational to the MDIs’ ability to expand lending and deposit-taking capacity in their communities. Courtesy Photo. Wells Fargo today announced equity investments in six African American Minority Depository Institutions (MDIs) as part of its March 10, 2020, pledge to invest up to $50 million in Black-owned banks. As part of the capital investment, the banks will have access to a dedicated Wells Fargo relationship team that will provide financial, technological, and product development expertise in order to help each institution grow and benefit their local community. In the ongoing pandemic, communities of color have been disproportionately impacted, and this investment

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