Jamie Dimon says the pandemic is a ‘wake-up call’ that reveals the stark inequalities in the US
New York — Jamie Dimon, CEO of JPMorgan Chase, has said he hopes policymakers use the Covid-19 crisis as a catalyst to rebuild a more inclusive economy as the pandemic exposes stark inequalities among Americans.
US joblessness has hit historic levels in just two months amid coronavirus-induced economic lockdowns. JPMorgan, the biggest US bank, has delayed payments or refunded fees to more than 1.5-million customers across home lending, credit cards, deposits, automotive loans and business banking. That includes helping hundreds of thousands of home owners delay mortgage payments, according to the memo.
JPMorgan has also funded $30bn in loans to more than 250,000 businesses as part of the US small-business administration’s relief effort known as the paycheck protection programme .
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