Ed Skyler, the bank's global head of public affairs, says a newly established $150 million fund will make equity investments in firms seen as having a positive impact on society.
The bank would make small-business loans on the online retailer’s platform; Fed survey says banks worry about increasing delinquencies, especially in subprime.
American Banker's community impact winner for 2019 has been the driving force behind the Pittsburgh bank's $500 million investment in early childhood education and development.
The Minneapolis bank said it will provide $8.2 million in grants to nonprofits that arm potential workers with cutting-edge skills and promote small-business growth. Banks say the investments will help them and their commercial customers close the skills gap.
Management at the Oklahoma City bank prides itself on listening to employees, and embracing the volunteer policy suggested by the chief marketing officer is just one example of that.
The total includes donations to community groups helping low-income people, support for the development of financial coaching programs and investment in the creation and testing of fintech tools that can help underserved people.
Readers respond to JPMorgan's Twitter gaffe, weigh the role banks should play on issues like climate change, consider the impact of artificial intelligence on fair lending and more.
