Thasunda Brown Duckett is considered one of the most powerful women in banking. She is currently the CEO of Chase Consumer Banking at JPMorgan Chase and helps lead Advancing Black Pathways. The initiative serves as an opportunity to “help black people chart stronger paths toward economic success and empowerment.” In this episode of A Word, Duckett shares pragmatic tips toward financial freedom, discusses the history and continued impact of the racial wealth gap as well as her own upbringing, which motivated her to help others gain financial health.
It is important to note that this video was recorded before severe global measures were put in place to prevent the spread of COVID-19, and thus filmed in a different financial context. In America, we are aware that black and low-wage workers are severely more affected financially as a result of this unexpected crisis.
“As a mother, daughter and banking executive, COVID-19 has affected every part of my life,” said Duckett in a statement to Chase customers. “All of us at Chase know how much you and your communities are counting on us.”
In a recent statement to The Root, Duckett stressed the importance of building an emergency fund, now more than ever.
“Even before the COVID-19 crisis hit, many of us couldn’t come up with $400 in an emergency,” says Duckett. “But now, no matter what your income level is, it’s critical you make sure you’re ready for an economic downturn. Make sure your budget is up-to-date, and if you don’t have one, create one now.”
Watch above for more information about Duckett and Chase’s Advancing Black Pathways initiative.