JPMorgan Chase Invests $10M in Liberty Ban
JPMorgan Chase & Co. announced that it has invested $10 million in Liberty Bank to “strengthen the independent, African American bank, increase local lending and promote market expansion.”
“This infusion of capital will allow us to scale up our efforts to support small businesses, increase our mortgage lending and help refinance predatory lending products, which will result in significant cash flow enhancements for our most challenged communities,” said Liberty Bank President and CEO Alden J. McDonald Jr. “We appreciate the confidence JPMorgan Chase has placed in our ability to understand our customer base and offer financial services that build wealth in our communities.”
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