Massachusetts Rep. Ayanna Pressley sent letters to JPMorgan and four other major lenders asking for more details about the programs they rolled out in the wake of George Floyd’s murder.
Rep. Ayanna Pressley, D-Mass., sits on the Financial Services Committee in the GOP-led House of Representatives.Rep. Ayanna Pressley is calling on five major U.S. banks to provide updates on the racial equity pledges they unveiled following the surge in Black Lives Matter activism in 2020.
In letters sent Wednesday to the CEOs of JPMorgan Chase, Citigroup, Bank of America, U.S. Bancorp and Wells Fargo, Pressley asked for a “comprehensive financial audit report,” including data, plans and policy changes related to their commitments, by Oct. 23. “Whether you’re talking about redlining or denying credit for Black homebuyers and entrepreneurs, or closing brick-and-mortar banks in Black communities, Black folks have historically been denied opportunities to grow wealth, to achieve financial prosperity,” Pressley told NBC News.
“The harm was very precise. The work of restorative justice, of racial justice, of justice for Black Americans, has to be just as precise,” she said.Of the pledges Pressley cited, JPMorgan’s was by far the largest. Its
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