Financial Literacy is Not the Problem
A recent "60 Minutes" segment covered how JPMorgan views extending credit to black entrepreneurs.
"Jamie Dimon, the CEO of JPMorgan Chase, is testing out a new kind of business investment in the city of Detroit. The idea grew out of Dimon's interest in changing the way the bank was engaging in philanthropy."
— Leslie Stahl, opening her "60 Minutes" segment
Apparently, the first thing that springs to mind when Dimon wants to lend money to black people in Detroit is "philanthropy." To that end, JPMorgan extended not only credit but educational and informational resources for budding entrepreneurs.