JP Morgan Chase bank, which just announced plans to invest $100 million in Detroit for economic development projects in the next five years, has put together an uplifting video promoting Detroit.
Some sang the praises of the bank. Som are skeptical of the bank's motives. Some say $100 million isn't all that much for the bank.
Today show co-host Matt Lauer asked the bank's CEO Jamie Dimon if it was a public relations stunt to upgrade its image. The company last year paid a $13 billion fine for knowingly selling faulty mortgage securities that contributed to the financial crisis.
Dimon dismissed such suggestions and said the bank is committed to helping Detroit.
Detroit Mayor Mike Duggan applauded the infusion of money, saying it was a good start. A.L.
