Below is the letter we will send to Jamie Dimon, CEO of JP Morgan Chase:
Demand JP Morgan Chase make cash payments to Black communities
JP Morgan Chase, a banking institution with a history of owning the enslaved, reported $33.8 billion in second-quarter revenue, a record high during a recession and pandemic that disproportionately affects Black people. Banking institutions have and continue to play an active hand in the oppression and marginalization of Black people and must be held accountable.
JP Morgan Chase has perpetuated redlining, a federal effort by the Federal Housing Administration whose explicit goal was to ensure "incompatible racial groups should not be permitted to live in the same communities" by denying loan applications based on race and location. These practices pushed Black people to locations now dense with pollution, predisposing Black communities to chronic illnesses leading to high rates of coronavirus contraction and death, all while significantly widening the wealth gap.
Without being directly confronted with the varying ways banks have contributed to generations of racism and currently deny loans, increase interest rates, or flat-out deny service to Black families, these institutions will continue to adversely affect the economic health of Black communities. The June Black Lives Matter uprising sent corporations rushing to make statements and gestures in solidarity with the movement. However, many corporations and their practices continue to oppress Black people.
The racism baked into the American banking system can and will be changed if we continue to hold these institutions accountable for the hollow efforts they make to show solidarity for Black lives and liberations. Sign this petition to pressure JP Morgan Chase to make cash payments to Black communities for its history of racism.
Here is the Petition:
Dear Jamie Dimon,
JP Morgan Chase has a deep history of contributing to racism and harming Black people. The solidarity shown during the current pandemic in support of Black lives falls short of the recompense Black people deserve to level the economic playing field. Due to the historical and current claims of racism, JP Morgan Chase must commit to cash payments to Black communities, correct its lack of Black C-suite level representation, and remove its racist practices.