President Joe Biden’s Treasury Department announced it has created a new post to combat alleged racial inequality issues in banking and other financial services industries.
Treasury Secretary Janet Yellen said on Monday that Janis Bowdler, a former JPMorgan Chase executive is “part of a multi-pronged strategy by the Biden administration to deal with systemic racism found in many parts of the economy,” the Associated Press (AP) reported.
”Treasury must play a central role in ensuring that as our economy recovers from the pandemic, it recovers in a way that addresses the inequalities that existed long before anyone was infected with COVID-19,” Yellen said in a statement.
The AP reported on the Biden administration’s governance through a racial lens:
Last week the Justice Department announced a new coordinated plan with the Consumer Financial Protection Bureau and the Comptroller of the Currency to investigate and prosecute redlining, the historic practice where blacks and other minorities were denied access to financing.
The AP also noted Bowdler’s association with the leftist, open borders organization La Raza, which AP called “an advocacy organization for Latino issues”:
Before her Treasury Department appointment, Bowdler was president of the JPMorgan Chase & Co. Foundation, the arm of JPMorgan Chase that tries to target investments into underserved neighborhoods and communities. She also worked at the National Council of La Raza.
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