JPMorgan responds to racism allegations

06.04.2020 - Petr Mazaylo
JPMorgan responds to racism allegations

JPMorgan Chase & Co (JPM.N) will modify its customer complaint system on Tuesday and process how employees choose eligible clients for particular banking services.

There were racial discrimination claims in the bank against black customers last December 2019, New York Times reported. Audio recordings made by a bank employee and a customer served as evidence of the said incident. The reports compelled the bank to “look at how we do business so that we could gain a deeper understanding of what more we can do to root out racism and discrimination,” co-Chief Executives Gordon Smith and Daniel Pinto wrote in a memo sent to the bank’s staff.

The bank will make an easier process wherein employees can file customer complaints and identify alarming concerns to senior management. JPMorgan Chase also stated that they were re-evaluating the rules and qualifications of new bank products and benefits. Strengthened tools will also be given to bank managers in order for them to properly monitor their employees. The bank has also committed in recruiting more diverse staff.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from Umarkets.com or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue
×

Help with deposit?