Kanye West will need to find a new bank for his Yeezy empire because his banking relationship with JPMorgan Chase has reached the finish line.

Historically Black Colleges and University (HBCU) students make the world go round! According to a press release, JPMorgan Chase & Co has partnered with the United Negro College Fund (UNCF) to create the J.P. Morgan Chase Wealth Management HBCU Scholarship. The move is intended to provide support for the Black community by providing them with the resources to achieve business, career, educational and personal financial success. “Systemic racism is a tragic part of America’s history,” said Jamie Dimon, the banking giant’s chairman, and CEO in a press release. “We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latinx people. It’s long past time that society addresses racial inequities in a more tangible, meaningful way.” Available to students who will be full-time college sophomores in the Fall 2021 semester, the scholarship opportunity is for students who are interested in the financial planning...

LeBron James gives back to his community continuously. Following the establishment of I Promise School, I Promise Village transitional housing, and other off-court initiatives, the LeBron James Family Foundation is now opening House Three Thirty, reports TIME. Announced this week, House Three Thirty is a 60,000-square-foot venue that will offer financial literacy advice, job training, and a variety of other services that the entire Akron community can utilize. “House 330 is going to be a sanctuary for our families,” said James of the venue — that will also include a dining space, coffee bar, private card room, and a museum dedicated to the NBA champion. “It’s going to be a place where all our families can grow and learn. This will be a hub for everything possible our families will need.” In addition to cool recreational amenities, students and families can receive training in areas like plumbing, heating and cooling, food service, merchandising, accounting, and event planning. The...

New Voices Foundation is launching the New Voices Banking Bootcamp, a business banking educational program in partnership with JPMorgan Chase’s Advancing Black Pathways initiative, announced PRNewswire . According to the press release, the bootcamp is designed “to help women of color entrepreneurs establish strong business banking relationships and expand their access to capital.” Considering that entrepreneurs of color still struggle to raise venture funds and resources for business growth, this opportunity will help fill the gap through financial education.   View this post on Instagram   We are proud to announce the launch of our New Voices Banking Bootcamp sponsored by JPMorgan Chase & Co.’s Advancing Black Pathways! Over the course of three sessions in December 2020, this virtual Banking Bootcamp will provide 15 women of color entrepreneurs access to JPMorgan Chase & Co.’s bankers for programming on key topics, including establishing strong business banking relationships,...

Magic Johnson’s EquiTrust Life Insurance company has teamed up with Carver Federal Savings Bank and MBE Partners to provide $225 million in Paycheck Protection Program (PPP) loans to minority and women-owned businesses, according to Black Enterprise . This is in addition to the combined $100 million in PPP loans that the corporations have provided during the coronavirus, bringing the total to $25 million in funds. These loans are for all nonprofits, religious organizations, minority, and women-owned businesses that were left out of the Small Business Administration funding. “These businesses are a vital part of our economy and essential to the economic growth necessary for recovery from the pandemic. We have a responsibility to ensure an equitable distribution of federally backed capital to minority-owned small businesses,” Chair of EquiTrust Life Insurance, Earvin “Magic” Johnson, said. The coronavirus pandemic has had a tremendous impact on business owners, especially those that...

JPMorgan Chase is teaming up with two Black-owned banks for the U.S. Department of Treasury’s Financial Agent Mentor-Protégé Program. The Harbor Bank of Maryland and Liberty Bank and Trust Co. will be mentored by JPMorgan to help the banks gain customers, create new business strategies, and accelerate growth within the company. The partnership comes at a time when Black-owned banks are struggling to stay alive facing operational and regulatory costs that are common strains for small banks. There are currently only 19 Black-owned banks in major cities across the country. With JPMorgan’s help, Harbor Bank of Maryland and Liberty Bank will have the chance to strengthen their presence and help their respective Black communities. Eva Robinson, Head of Treasury Services Public Sector Sales for North America, JPMorgan, said in a press release: “We’re excited about the opportunity to help black-owned community banks expand their capabilities through this program. This initiative is...

A new tech-focused organization created a program aimed at helping underrepresented entrepreneurs leverage the latest business technology to simplify their workflow and focus on growth. The Cincinnati-based NITRO! Bootcamp is designed to “power up” small owned businesses through business technology training including cloud storage, creative services, project management, and accounting. The training—made possible with a $100,000 grant from J.P. Morgan Chase & Co., Cintrifuse —is slated to take place during a one-day boot camp on February 23, 2019. “Startups or small businesses are so focused on running their business that they’re not even using some of the best technology out there,” said Maurice Coffey, a Procter & Gamble Co. executive who’s helping with Cintrifuse initiatives to WCPO Cincinnati. “We want to make them more efficient and enable them to expand their business reach.” Participants in the NITRO! Bootcamp , will get access to free tech-enabled products curated to help...

In a press release , JPMorgan Chase announced that its Entrepreneurs of Color Fund would invest $3 million to support minority entrepreneurs in Chicago’s South and West Sides. It will also invest $1 million through Ascend2020 in business mentoring programs at the University of Chicago and Northwestern University. The investment follows in the footsteps of previous investments that JPMorgan Chase made in Detroit, San Francisco and South Bronx. The Detroit fund resulted in 52 minority small businesses receiving funds and more than 740 new or preserved jobs being supported. The US Census showed that only 18 percent of businesses in Chicago are owned by people of color, and only 2 percent are African Americans, even though minority and women entrepreneurs have the fastest growth according to the press release. “South and West Side neighborhoods hold tremendous economic opportunity, but we can do more to ensure that everyone has a chance to participate in Chicago’s continued...