Corporate America has been quite vocal in its condemnation of the alt right rally in Charlottesville and the associated violence that took place earlier this month. Later on, President Donald Trump's failure to initially condemn white nationalists and neo-Nazis had also been met with a sharp blowback from leading CEOs. In a new development, one of America's leading banks, J. P. Morgan Chase has announced that it will fund anti-hate groups to the tune of $1 million in light of recent events in Charlottesville.

Important development

J. P. Morgan's head of Corporate Responsibility Peter Scher shared a memo with his employees in which he stated that the company needs to do more to combat hate and prejudice in the country.

He wrote, "The events in Charlottesville have increased the urgency to confront hate, intolerance, and discrimination wherever it exists.". To that end, American's largest bank is going to contribute a total of $1 million towards groups that are engaged in fighting hate and prejudice. The memo went on to add that these donations are going to be used to combat the 'deep divisions' within people in the country.

According to the memo, the Anti-Defamation League and the Southern Poverty Law Center are the two groups who are going to get the funds. The memo went on to state that the money will be split equally between the two groups. In addition to that, J. P. Morgan has also decided to donate a sum of $50,0000 to the Charlottesville Area Community Foundation.

Long association with groups

J.

Top Videos of the Day

P. Morgan's association with the two groups is not new, and the memo stated that the company is going to continue to fund these initiatives in order to track, expose and fight hate in all forms. Beyond the $1 million that the bank is going to contribute to these two organization, J. P. Morgan is also going to match contributions from employees to the tune of up to $1 million. The entire contribution might eventually end up being a significant one for Anti-Defamation League and the Southern Poverty Law Center.

The Southern Poverty Law Center is engaged in monitoring hate groups across the country which engage in bigotry. On the other hand, the Anti-Defamation League is primarily engaged in fighting discrimination against Jewish people and seeks to promote equality and harmony among all citizens. The Southern Poverty Law Center 's president Richard Cohen thanked J. P. Morgan for its contribution and went on to state that the organization is pleased with the bank's strong stance against bigotry and hate.