Some black people -- truly a minority, but some -- are unbanked. The majority of these are older black people that don't trust banks. I can't say I blame them. JP Morgan knows that. So you can bet whatever they are saying is a lie of some sort or another. Likely this is some sort of attempt to get more government money.
If 99% of white people have a bank account, and only 96% of black people do, voila. Several times more likely to be unbanked.
Some black people -- truly a minority, but some -- are unbanked. The majority of these are older black people that don't trust banks. I can't say I blame them. JP Morgan knows that. So you can bet whatever they are saying is a lie of some sort or another. Likely this is some sort of attempt to get more government money.
If 99% of white people have a bank account, and only 96% of black people do, voila. Several times more likely to be unbanked.