Jpmorgan drops “property rights” from the DEI program

JPMorgan Chase makes changes to Diversity, fairness and inclusion (Dei) The program as part of the ongoing reforms the bank to keep pace with the market and current laws, according to a memorandum seen by Fox Business.

Jin Pepsak, CEO of Jpmorgan Chase, told the Friday note that the bank replaces the word “Equity” with “opportunity”. It will now refer to the program as diversity, opportunities and integration (DOI), and will continue to submit a report to Thelma Ferguson.

“E” always means equal opportunity for us, not equal results, and we believe that this reflects more accurately our continuous approach to reaching most customers and clients to develop our business, creating a comprehensive workplace for our employees and increasing access to opportunities. ”

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The bank has already simplified diversity programs that are developed by DOI, which means that some programs have been combined into various lines of business, including human resources or companies’ responsibility, according to Piepszak.

JPMorgan also said it would increase contact between councils, executive forums, business resources groups and DOI “to ensure consistent and maximum operating principles.” This means that “activities, councils or seasons” may be unified “to simplify its process, adding Pepsak.

The company also plans to reduce the volume of exercises on such topics.

Pepsak said that the company is always committed Employment, compensation and promotion That depends on merit.

“We are working to reduce barriers, not standards, because we know that when you reduce the criteria, no one wins,” said Pepsak. “We do not have illegal classes or incentives, and we will not reject a person away from their political or religious beliefs, or because of those they are.”

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The company has not determined the changes as a “corrective action”, but rather as part of its organic development. She indicated that changes have been made to diversity programs since 2023.

index	protection	last	Changing	% Change
Jpm	Jpmorgan Chase & Co.	239.01	-0.10	-04 %

The memo came a few weeks after the bank agreed to update its rules of behavior to protect against religious and political discrimination. The Diversity and Integration Department is prohibited in the rules of their behavior clearly discrimination against “religious opinions”, and includes the language that prohibits discrimination against Customers for their “political opinions”.

An increasing number of companies – from banks to retailers – presented similar ads as pressure on major companies escalate to expand the scope of initiatives that claim to increase ethnic and sexual equality in the workplace. The initiatives also faced severe criticism from the president Donald Trump, Who signed an executive order in January to direct government agencies to investigate Dei programs in companies circulating publicly, companies or large non -profit associations or institutions of assets of no less than $ 500 million.

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Last month, Citigroup said it would not require a variety of candidates for job interviews and said it was changing the name of the “Diversity, Equity, Integration and Talent Management team” to “Talent and Participation Management”.

index	protection	last	Changing	% Change
C	Citigroup Inc.	71.82	+0.38	+0.53 %
GS	Goldman Sachs group.	562.68	+5.34	+0.96 %

Likewise, Goldman Sachs canceled a four -year -old policy represented by taking public companies exclusively with at least two members of the Board of Directors. It also dropped a full section dedicated to “diversity and inclusion” from its annual introduction.

David Special and Reuteers in Fox Business contributed to this report.