JPMorgan Chase & Co. (NYSE: JPM) today announced it will work together with Harbor Bank of Maryland and Liberty Bank and Trust Company as part of The Financial Agent Mentor Protégé program sponsored by the U.S. Department of the Treasury.
“The U.S. Department of the Treasury is committed to promoting inclusion in all of its business activities. The Financial Agent Mentor Protégé Program is an important part of this effort. We applaud industry leaders for sharing Treasury’s commitment by working to enhance the capacity and expertise of these historic financial institutions that have provided banking services in their respective communities for generations,” said Dr. Lorraine Cole, Director, Office of Minority and Women Inclusion, U.S. Department of the Treasury.
The mentor program brings together large banks that currently serve as Financial Agents to Treasury (as mentors) and small, highly capable banks (as protégés) to expand the options Treasury has to execute programs. Mentors foster learning and development to help prepare the new generation of financial institutions succeed in responding to the dynamic and diverse requirements needed when working with Treasury.
JPMorgan Chase has a close working relationship with both Harbor Bank of Maryland and Liberty Bank and Trust, two regional black-owned banks, as part of the Entrepreneurs of Color Fund in Detroit and the Greater Washington, D.C. region. JPMorgan Chase also announced Advancing Black Pathways earlier this year, furthering the firm’s commitment to expanding economic opportunity for Black Americans and creating new opportunities in the areas of education, careers and wealth.
“We’re excited about the opportunity to help black-owned community banks expand their capabilities through this program,” said Eva Robinson, Head of Treasury Services Public Sector Sales for North America, J.P. Morgan. “This initiative is consistent with our efforts to help consumers and entrepreneurs of color get better access to credit and working capital, and ultimately ignite wealth creation in low- and middle-income communities.”
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.