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What's Racial Equity Going to Take?

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Wednesday, December 23, 2020

It’s up to us. America’s racial wealth gap has only widened this year, but the good news is we are finally seeing substantial commitments from all corners of society to close the divide for good.

At OZY, we aim to help #ResetAmerica, and we have rededicated our editorial mission to paving the path toward racial justice in the U.S., whether it’s highlighting African Americans on the rise in various fields or new trends that will soon fuel prosperity in Black communities. JPMorgan Chase & Co. is responding to these challenging times by making a new $30 billion commitment to advance racial equity. So we’re teaming up to elevate creative solutions to these vital issues. Read on for more.

1. How to Tackle the Wealth Gap

No single company can close the racial wealth gap. But as America’s biggest bank, JPMorgan Chase has a responsibility to try while collaborating with others. Brian Lamb, global head of diversity and inclusion, lays out the path forward, from lending to hiring and more, noting that “it’s a congenital defect of our society that’s resulted in racial gaps across virtually every walk of American life.”

2. A $30B Commitment to Racial Equity

JPMorgan Chase is building on its existing efforts with a $30 billion commitment over the next five years to drive an inclusive recovery, support employees and break down barriers of systemic racism. The funds will go toward affordable housing, lending to small businesses and much more.

Learn More

3. A Pop-Up Cookie Shop Soars

Cory Nieves turned to making cookies to adjust to a new city and help his mom make ends meet. He built a thriving business in the process. Now Mr. Cory’s Cookies is sparking a buzz in the New Jersey food scene and funding Nieves’ future college education. The 16-year-old already has a decade of business experience under his belt.

4. A New Path to Success for Entrepreneurs

How do you navigate your cash flow? How can you adapt to today’s economic challenges? What are successful businesses doing right now? You can find all that and more from Advancing Black Entrepreneurs by Chase for Business, which includes tools, advice, and education that help Black business owners grow and scale their firms.

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What's Racial Equity Going to Take?