Black households are several times more likely to be what is known as unbanked, meaning they do not have a primary checking account with a traditional bank, or underbanked

Imagine trying to pretend that the physical distance to the bank has anything to do with this.

where households still rely on high-cost financial services like check cashing, pawn shops and payday loans.

Ah, so JPMorgan have realized this is a market of uneducated suckers who are bad with money that they might be able to take from the pawn shops.