Treasury Department names first counselor for racial equity

NEW YORK – The Treasury Department has hired a erstwhile JPMorgan Chase enforcement to caput a caller authorities programme aimed astatine combatting radical inequality issues successful banking and different financial-services industries.

Treasury Secretary Janet Yellen said Monday that Janis Bowdler volition beryllium the department's archetypal counsellor for radical equity, portion of a multi-pronged strategy by the Biden medication to woody with systemic racism recovered successful galore parts of the economy.

Banking and concern person agelong had issues with radical inequity, from the deficiency of practice of Blacks and different minorities astatine the highest levels of companies to ongoing issues of getting adjacent entree to services for non-white borrowers.

"Treasury indispensable play a cardinal relation successful ensuring that arsenic our system recovers from the pandemic, it recovers successful a mode that addresses the inequalities that existed agelong earlier anyone was infected with COVID-19,” Yellen said successful a statement.

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Last week the Justice Department announced a caller coordinated program with the Consumer Financial Protection Bureau and the Comptroller of the Currency to analyse and prosecute redlining, the historical signifier wherever Blacks and different minorities were denied entree to financing.

Before her Treasury Department appointment, Bowdler was president of the JPMorgan Chase & Co. Foundation, the limb of JPMorgan Chase that tries to people investments into underserved neighborhoods and communities. She besides worked astatine the National Council of La Raza, an advocacy enactment for Latino issues.

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This communicative has been updated to close the spelling of the appointee's past name. It's Bowdler, not Browdler.

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