A JPMorgan Chase spokesperson is defending the bank’s diversity, equity, and inclusion (DEI) policies, asserting that the bank’s hiring practices are “merit-based.” This comes as the bank’s CEO, Jamie Dimon, seems to reconsider his commitment to DEI initiatives amid ongoing criticism from anti-DEI activists and government pressures.

In a January interview with CNBC at the World Economic Forum in Davos, Dimon dismissed the attacks on his bank, saying, “Bring them on.” However, at a recent company town hall, Dimon expressed frustration with some DEI efforts, criticizing how money was spent on certain programs. “I saw how we were spending money on some of this stupid stuff, and it really pissed me off. I’m just going to cancel them,” Dimon said, emphasizing that he had never fully supported bias training programs.

In JPMorgan’s latest SEC filing, the bank significantly reduced mentions of DEI programs, though it did warn that it expects to face criticism from activists and politicians for its stance. The filing includes a section on “Firm culture,” where JPMorgan highlights its employee resource groups that support DEI efforts by bringing unique perspectives to the workplace. The filing also references “Centers of Excellence,” which offer career coaching and other services aimed at DEI goals. However, these centers are no longer categorized explicitly as DEI programs.

A JPMorgan spokesperson explained that the bank regularly reviews and adjusts its policies, noting that changes have been made in response to the Supreme Court’s 2023 decision regarding affirmative action.

As the Trump administration continues its efforts to restrict DEI initiatives, several Wall Street firms, including Goldman Sachs and Citigroup, have scaled back their diversity programs. Trump’s executive order banned DEI programs within federal agencies, calling them “illegal and immoral discrimination programs.” Despite this, JPMorgan’s spokesperson maintains that the bank is not discriminating but is focused on expanding opportunities for all employees and customers.

“The term ‘DEI’ means different things to different people,” the spokesperson said. “For us, it’s about ensuring every customer and employee has a fair opportunity and that we continue to serve our communities while growing the company.”