J.P. Morgan Will Donate To Rights Groups -- WSJ
August 22 2017 - 3:02AM
Dow Jones News
By Emily Glazer
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (August 22, 2017).
J.P. Morgan Chase & Co. is planning up to $2 million in
donations to human- and civil-rights organizations following the
recent clashes in Charlottesville, Va.
The largest U.S. bank by assets will donate $1 million split
between the Southern Poverty Law Center and Anti-Defamation League
"to further their work in tracking, exposing and fighting hate
groups and other extremist organizations," according to an internal
bank memo sent Monday that was reviewed by The Wall Street
Journal.
This follows bank Chief Executive James Dimon saying in an
employee memo last week that he strongly disagreed with President
Donald Trump's reaction to Charlottesville and personally supported
the disbanding of the president's strategic and policy council of
which he was a member.
"It is a leader's role, in business or government, to bring
people together, not tear them apart," Mr. Dimon wrote in the
internal memo sent Aug. 16, the day the strategic council
disbanded.
The debate over the removal of a statue of Robert E. Lee, a top
commander of Confederate forces in the Civil War, sparked racially
charged protests in Charlottesville. One woman was killed during
the violence when a car driven by an alleged white supremacist
plowed into a crowd of counterprotesters.
Mr. Trump said both sides -- white nationalists and
counterprotesters -- were to blame for the clashes.
"Now more than ever, America's leading institutions must speak
out against white supremacism," said the Southern Poverty Law
Center.
J.P. Morgan said in Monday's memo that beginning in September,
it would match employees' donations to a range of human- and
civil-rights organizations two for one. The bank will donate up to
an additional $1 million, according to the memo, sent by Peter
Scher, the bank's chairman of the Washington, D.C., region and
corporate responsibility head.
J.P. Morgan will also give $50,000 to support the work of the
Charlottesville Area Community Foundation for its immediate and
longer-term reconciliation efforts.
"The events in Charlottesville have increased the urgency to
confront hate, intolerance and discrimination wherever it exists,"
the bank said, according to Monday's memo.
Write to Emily Glazer at emily.glazer@wsj.com
(END) Dow Jones Newswires
August 22, 2017 02:47 ET (06:47 GMT)
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