“Systemic racism is a tragic part of America’s history,” CEO Jamie Dimon said.

JPMorgan Chase pledged $30 billion to help ameliorate the racial wealth gap in the U.S. and “reduce systemic racism against Black and Latinx people,” the firm announced in a statement Thursday.

The investment bank said the $30 billion commitment over the next five years will come in the form of loans, equity and direct funding to promote affordable housing, grow Black and Latinx-owned businesses, improve access to banking in communities of color, and build a more diverse workforce.

“Systemic racism is a tragic part of America’s history,” Jamie Dimon, chairman and CEO of JPMorgan Chase, said in a statement. “We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latinx people.”

“It’s long past time that society addresses racial inequities in a more tangible, meaningful way,” the chief executive added.

PHOTO: People walk inside JP Morgan headquarters in New York, Oct 25, 2013.

People walk inside JP Morgan headquarters in New York, Oct 25, 2013.

People walk inside JP Morgan headquarters in New York, Oct 25, 2013.

Brian Lamb, the bank’s global head of diversity and inclusion, added that he feels they have a “responsibility to intentionally drive economic inclusion for people that have been left behind.”

“The COVID-19 crisis has exacerbated long-standing inequities for Black and Latinx people around the world,” Lamb said. “We are using this catalytic moment to create change and economic opportunities that enhance racial equity for Black and Latinx communities.”

Black and Latinx workers have been disproportionately impacted by unemployment amid the COVID-19 crisis, data from the Department of Labor indicates.

Some of the highlights from the bank’s outline of how the $30 billion will be parceled include originating an additional 40,000 home-purchase

Pope FrancisPope FrancisPope: Pandemic shows ‘trickle-down’ economic policies don’t work Pope declined to meet with Pompeo Pompeo calls on Vatican to denounce China for human rights abuses MORE met with around a dozen investigators from the Council of Europe’s agency involved with investigating financial crimes on Thursday and pledged that the Vatican would uphold “clean” finances.

The Associated Press reported that the Pope met with a team from Moneyval at the Vatican, where he praised their efforts aimed at “monitoring movements of money and of intervening in cases where irregular or even criminal activities are detected.”

“The measures that you are evaluating are meant to promote a ‘clean finance’, in which the merchants are prevented from speculating in that sacred temple which, in accordance with the Creator’s plan of love, is humanity,” said the Pope, according to the AP.

His meeting with the investigators comes as the Vatican has faced criticism over a decision by Francis’s former top deputy, Cardinal Angelo Becciu, to wire a sum of euros equaling just over $100,000 to a charity controlled by his brother. Becciu also reportedly urged a conference of Italian bishops make a $300,000 donation to the same charity.

Becciu has admitted the actions, but insisted that he did so solely out of support for the charity.

The visit from the Moneyval investigators was not reportedly linked to the scandal specifically; the Vatican, along with other European countries, submits itself to the agency for periodic review of its financial practices.

“Sometimes, in the effort to amass wealth, there is little concern for where it comes from, the more or less legitimate activities that may have produced it, and the mechanisms of exploitation that may be behind it,” the Pope reportedly told the investigators Thursday. “Thus, situations can occur where, in touching money,