JPMorgan just dropped the term ‘equity’ from its DEI program

JPMorgan Chase is replacing the term "equity" with "opportunity" in its diversity, equity, and inclusion (DEI) program, renaming it Diversity, Opportunity & Inclusion (DOI). The change is intended to reflect the bank's focus on providing equal opportunities, not equal outcomes. According to Chief Operating Officer Jenn Piepzak, the shift is meant to better reflect the bank's approach to reaching customers, creating an inclusive workplace, and increasing access to opportunities. The move comes as corporate DEI programs face scrutiny from the Trump administration, which has issued executive orders targeting such initiatives. JPMorgan is committed to merit-based practices, with no illegal quotas or pay incentives, and does not discriminate based on political or religious beliefs. The bank has started making changes to its DEI program following a Supreme Court ruling on affirmative action in 2023. CEO Jamie Dimon has expressed skepticism about certain DEI initiatives, including bias training, and has pledged to fix any issues with the program. Despite this, Dimon remains committed to diversity and inclusion work, including outreach to underrepresented communities. The change is part of a broader trend among finance companies, which are reevaluating their language on diversity in response to regulatory and legal pressures.