JPMorgan Chase, Wells Fargo and Bank of America are among the numerous U.S. financial services companies rallying to support Japan in the aftermath of the catastrophic March 11 earthquake and tsunami.
Bank of America announced a $1.22 million aid package that included a grant donated to the American Red Cross. It is also accepting donations for the American Red Cross japan relief efforts at all of its U.S. banking centers.
"We are determined to do our part in ensuring that the communities affected by this tragedy receive relief and refuge as soon as possible," said Brian T. Moynihan, president and chief executive officer of Bank of America. “We are coordinating with employees in Japan and across the globe on a number of initiatives aimed at encouraging a swift recovery."
JP Morgan Chase is committing $5 million in near-term relief and recovery efforts in Japan, including $1.1 million pledged to JP Morgan Chase Japan and $1 million to match employees' contributions to the American Red Cross and World Vision, with the rest going to various charitable and relief programs.
"Our thoughts and prayers are with the people of Japan at this time," JPMorgan Chase CEO and Chairman Jamie Dimon said. "This donation is to help both with immediate needs as well as the ongoing relief and recovery efforts in the months ahead."
Chase also plans a pathway for its Chase Sapphire, Ink from Chase and Chase Freedom customers to make donations.
San Francisco-based Wells Fargo has programmed a path to personal donations into its ATMs. Wells Fargo customers are given an option during their ATM transaction to help people affected by disasters. They can donate any amount, with all proceeds going directly to the Red Cross.
Others in financial services that have already pledged aid include Visa, Mastercard and American Express, Goldman Sachs, Morgan Stanley, TD Bank and First Hawaiian Bank. Mybanktracker.com is keeping a running list of those institutions.