JPMorgan Chase said Thursday it will extend billions in loans to Black and Latino homebuyers and small business owners in an expanded effort toward fixing what the bank calls “systemic racism” in the country’s economic system.

The New York bank said it is committing $30 billion over the next five years toward programs that include earmarking more money for getting Black and Latino families into homeownership and providing additional financing to build affordable rental housing units.

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

The bank, which has $3.2 trillion in assets, said it expects the $30 billion to help finance 40,000 additional mortgages for Black and Latino households, another 20,000 loans that will refinance mortgages and help construct 100,000 affordable rental units. Additional funds will go to finance 15,000 small business loans to Black and Latino-owned businesses.

There will also be programs to place 1 million customers in low-cost checking and savings accounts, partly by opening new branches in minority-majority neighborhoods.

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

Since the death of George Floyd, a Black man killed while in police custody in Minneapolis in May, large US banks have made public efforts to address the disenfranchisement of Black and minority communities within the financial system.

In the immediate aftermath of Floyd’s death, JPMorgan announced a commitment of $1.75 billion toward programs they said would help address racial inequalities. But since then,

The U.S. real estate market is topsy-turvy in the pandemic economy. There are fewer homes for sale than usual, and more competition. Prices are up in most markets, yet slipping in others. How do millennials, with their growing families and increasing housing needs, fit into this confusing picture?

A new survey by Point2, a real estate search site, asked 6,780 millennials (ages 25 to 40) about their buying plans. The results suggest the largest generation is woefully unprepared for homeownership.

While 74 percent of millennials surveyed indicated they wanted to buy a home with a year, about 88 percent of them didn’t have enough saved to make the average U.S. down payment, about $62,000. In fact, 14 percent reported no savings at all.

Roughly 40 percent estimated they’d need $10,000 or less to put down on a home. In reality, among the 100 largest U.S. cities, only in Detroit would $10,000 be enough for a standard 20 percent down payment on a median-priced home. In San Francisco, at the other end of the scale, the down payment required is more than 20 times than in Detroit, about $218,000.

Given that the typical U.S. household historically saves 8 percent of its income, millennials need to buckle down, if they can afford it, and save more. A possible glimmer of hope: Americans of all ages have begun to put some money away during the pandemic. In April the average savings rate catapulted to almost 34 percent of income, though it dropped to about 14 percent by August, according to the U.S. Department of Commerce.

This week’s chart, based on Point2’s survey, shows the top and bottom 10 cities among the 100 largest in the U.S., ranked by median home price, and how long it would take millennials to save for a down