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JPMorgan Agrees to Racial-Equity Audit for $30 Billion Effort

An office worker enters the JPMorgan Chase & Co. headquarters in New York.

An office worker enters the JPMorgan Chase & Co. headquarters in New York.

Photographer: Michael Nagle/Bloomberg

JPMorgan Chase & Co. said it will do a third-party audit of its $30 billion racial-equity commitment, following Citigroup Inc. and BlackRock Inc. in agreeing to such a review. 

The biggest U.S. bank will hire a third party to perform the audit and publish a report on the results by the end of this year, according to a statement Thursday. The move comes in conjunction with SOC Investment Group, a JPMorgan shareholder, agreeing to withdraw a proposal on the matter.