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JPMorgan Chase CEO Jamie Dimon had to defend the company against calls to break it up, doubts about its ability to command higher prices and greater efficiency, and investor disappointment with fourth-quarter results.
January 14 -
Three big banks on Wednesday announced new community investment initiatives.
May 21 -
The Interfaith Center on Corporate Responsibility says a report scheduled to be released by year's end will go a long way toward restoring the bank's credibility with shareholders following a string of legal skirmishes. The group is also pushing for changes at Bank of America and Wells Fargo.
December 16
JPMorgan Chase
As part of the five-year grant, the Urban Institute a Washington-based think tank will produce a comprehensive study of the way JPM approaches corporate responsibility. The study will measure the outcomes of the company's philanthropic investments in workforce and economic development.
"Over the next five years, our firm will deploy $1 billion towards our philanthropic programs focused on creating economic growth and expanding access to opportunity," Peter Scher, the company's head of corporate responsibility, said in a press release Thursday. "We believe corporate responsibility includes a commitment to impact, measurement and accountability."
Additionally, JPMorgan will provide the institute with an undisclosed amount of funding for "institutional modernization and capacity-building," the release said.
JPMorgan and Urban will share the research findings through publicly available reports, briefings and meetings beginning later this year.
The announcement comes as JPMorgan faces increasing scrutiny over its social responsibility initiatives some of which stem from its recent legal settlements.
JPMorgan in December
In November 2013, as part of its $13 billion mortgage-related settlement with federal regulators, JPMorgan agreed to
Since then, JPMorgan has funded several initiatives related to workforce and economic development, particularly in Detroit. The company
