JPMorgan said on March 31 that it is launching the "American Dream" plan, with a commitment to direct $750 billion toward housing and community development by 2035. The bank said the new target is more than $200 billion above its previous commitment. CEO Jamie Dimon is leading the initiative, which covers six areas including small-business lending, housing affordability, and financial health. As part of the plan, $80 billion has been earmarked for small-business lending over the next decade. JPMorgan said the effort will expand into high-need markets including Alabama, Los Angeles, and Philadelphia. Combined with the bank’s earlier $1.5 trillion "security and resilience" plan, its total community investment commitments now exceed $2 trillion. According to CryptoBriefing, the new initiative does not include cryptocurrency or blockchain technology, even though JPMorgan has previously developed blockchain experiments such as the Onyx platform and JPM Coin.
JPMorgan announced on March 31 that it is launching the "American Dream" plan, committing $750 billion to housing and community development by 2035. The bank said the new pledge is more than $200 billion higher than its previous commitment.
Chief Executive Officer Jamie Dimon is leading the initiative. JPMorgan said the plan spans six areas, including small-business lending, housing affordability, and financial health. Of that total, $80 billion will go to small-business lending over the next 10 years.
The bank said the program will expand into high-need markets including Alabama, Los Angeles, and Philadelphia. When combined with JPMorgan’s earlier $1.5 trillion "security and resilience" plan, the bank’s total community investment commitments now exceed $2 trillion.
According to CryptoBriefing, the "American Dream" plan does not include cryptocurrency or blockchain technology, despite JPMorgan’s own blockchain experiments such as the Onyx platform and JPM Coin.
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