Business
Chase Community Branch to Empower Black and Brown Start-Ups
During the ribbon cutting ceremony before an audience of about 40 people, JPMorgan Chase CEO Jamie Dimon addressed executive staff members of Chase from various regions in California along with local staff and community members. For Dimon, community banks represent the changes he hopes to see in the world for future generations. Dimon also said the George Floyd murder and the pandemic shed light on the racial disparities in communities of color. “Disparities are not something we were unaware of, but it did spotlight the need to do more.”
![If you think you’re ready to take the next step in purchasing a home, reach out to learn more about the tools, resources and capital available to help make your homeownership dream a reality.](https://www.postnewsgroup.com/wp-content/uploads/2021/12/jaime-diamond-featured-web.jpg)
By Carla Thomas
On Dec. 8, JPMorgan Chase & Co. celebrated the grand opening of an innovative bank branch experience in downtown Oakland.
With a mission to help more Black and Latino start-ups and small businesses, the new Community Center branch will provide Oakland residents with financial tools and resources, including access to funding, mentoring and pop-up space for entrepreneurs.
Located at 3005 Broadway, the site is the first of its kind in Northern California, and only one of 12 among Chase’s nearly 5,000 branches nationwide.
“This is all about Oakland,” said branch manager Latanya Millican, who has served Chase for nearly 30 years. “This is a celebration of reaching our community with resources beyond traditional banking. At our branch, clients will be welcomed with opportunities to launch their business, expand their business, and secure closing costs on homes in addition to our traditional banking services.”
During the ribbon cutting ceremony before an audience of about 40 people, JPMorgan Chase CEO Jamie Dimon addressed executive staff members of Chase from various regions in California along with local staff and community members.
For Dimon, community banks represent the changes he hopes to see in the world for future generations. Dimon also said the George Floyd murder and the pandemic shed light on the racial disparities in communities of color. “Disparities are not something we were unaware of, but it did spotlight the need to do more.”
For Dimon, ‘more’ includes offering $5,000 homebuyer grants to help cover closing costs and down payments and increasing affordable housing and home ownership by providing $300 million in construction, permanent loans, and low-income housing tax credits over the past five years.
In 2020, the company committed to a $75 million, five-year investment in Oakland and San Francisco through long-term, low-cost loans and philanthropy to provide more affordable housing, and protect local residents from displacement.
“Our firm has committed $30 billion to advance racial equity and drive economic opportunities for Black, Latino and Hispanic communities, and the new centers are designed to accelerate minority, small-business growth in the country,” said Dimon.
“He’s like the modern-day Robin Hood,” said Betty Uribe, head of retail for California at Chase in describing Dimon.
Chase has also supported local organizations like the East Bay Asian Local Development Corporation (EBALDC) and The Unity Council and their mission of preserving affordable housing in Oakland neighborhoods with a $35 million loan through the Housing for Health Fund.
“We’re putting our communities first and this new hub will serve as a place where dreams are going to be hatched and brought to fruition,” Oakland Mayor Libby Schaaf said.
“After collaborating with my Chase Senior Business Consultant Nykole Prevost, myself and our director of operations were able to identify areas where the business can really impact our local communities on a faster timeline then we originally envisioned,” Derrick Hill, founder and president of Hill & Quality Associates, LLC, said.
Attendees also included Chase associates September Hargrove, Northern California director for Community Banking at JPMorgan Chase & Co.; Jonathan Morales, head of Community and Business Development for Chase in California; Nykole Prevost, senior business consultant, at Chase and Ben Walter, Chase Business Banking CEO.
Activism
Oakland Post: Week of September 4 – 10, 2024
The printed Weekly Edition of the Oakland Post: Week of September 4 – 10, 2024
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Activism
Oakland Post: Week of August 28 – September 4, 2024
The printed Weekly Edition of the Oakland Post: Week of August 28 – September 4, 2024
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Business
Gov. Newsom Signs New Laws Strengthening State’s Crackdown on Organized Retail Crimes
On Aug. 16, Gov. Gavin Newsom signed a package of 10 bills aimed at strengthening the state’s ability to prosecute people involved in organized retail crimes. According to Newsom’s office, “the new laws provide tougher criminal penalties for repeat offenders and additional tools for felony prosecutions.”
![iStock](https://www.postnewsgroup.com/wp-content/uploads/2024/08/CRACKD1.jpg)
By Bo Tefu, California Black Media
On Aug. 16, Gov. Gavin Newsom signed a package of 10 bills aimed at strengthening the state’s ability to prosecute people involved in organized retail crimes.
According to Newsom’s office, “the new laws provide tougher criminal penalties for repeat offenders and additional tools for felony prosecutions.”
“Let’s be clear, this is the most significant legislation to address property crime in modern California history,” said Newsom speaking at a news conference in San Jose.
“I thank the bipartisan group of lawmakers, our retail partners, and advocates for putting public safety over politics.”
Among other infractions, the news laws cover smash-and-grabs, sale of stolen property and car break-ins.
Earlier in the week, Newsom announced that the state’s Organized Retail Crime Task Force (ORCTF) has recovered stolen goods worth more than $7.2 million and has made 884 arrests since the beginning of the year.
The ORCTF’s efforts have led to a 212% increase in criminal investigations statewide. These investigations have led to a 106% increase in arrests in recent months.
Since 2019 when Newsom first appointed the task force, the state has invested over $1.1 billion to fight crimes and bolster local law enforcement efforts in communities across the state. This included an allocation of over $267 million across 55 cities and counties to hire more police and invest time and resources in more criminal investigations to make arrests and file felony charges against suspects.
Some of that funding was allotted last year as part of the governor’s Real Public Safety Plan, partnering with police and sheriff’s departments and district attorney offices to curb organized retail theft.
“The state’s Organized Retail Crime Task Force is responding readily and at record pace to crack down on organized criminals attempting to rip off California’s storefronts — demonstrating a continued commitment to enforcing public safety and protecting our communities,” said Newsom.
The task force helped the California Highway Patrol (CHP) make over 2,900 arrests and seize more than $45 million worth of stolen property since 2019 when it was first created.
Sean Duryee, the commissioner of the CHP, said that pursuing organized retail crime has yielded significant results each month.
“Through targeted investigations and numerous arrests, we are actively disrupting and dismantling these crime rings that threaten our communities and businesses,” said Duryee.
“Our message is clear: we will not allow organized retail crime to go unchecked in California,” he said.
The task force’s special operations and anti-crime initiatives have helped remove guns and drugs off the streets in hot spots such as Oakland, Bakersfield, and San Francisco with the backing of CHP officers, Newsom office stated.
California Retailers Association (CRA) President and CEO Rachel Michelin joined the Governor at the bill signing, along with Attorney General Rob Bonta, Assembly Speaker Robert Rivas (D-Hollister), Senate Pro Tempore Mike McGuire (D-Healdsburg), and other officials.
“These bills’ swift movement through the state Legislature and into law make it clear that retail theft policy priorities have shifted this year,” wrote Michelin on Facebook.
“This seismic shift is a testament to the California Retailers Association team’s strategic and persistent work with state leadership including the Governor’s office, Speaker’s office, Senate Pro Tempore, various members of the legislature and other key stakeholders to ensure the safety of our customers, stores and neighborhoods in which we operate in,” she added.
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