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JPMorgan Chase has long publicly championed diversity, equity, and inclusion in the workplace. Going forward, however, the bank will be embracing the term opportunity in lieu of equity.On Friday, the bank announced a notable change to the name of its DEI program. We are changing equity to opportunity and renaming our organization to Diversity, Opportunity & Inclusion (DOI) because the e always meant equal opportunity to us, not equal outcomes, and we believe this more accurately reflects our ongoing approach to reach the most customers and clients to grow our business, create an inclusive workplace for our employees, and increase access to opportunities, chief operating officer Jenn Piepzak explained in a memo obtained by Reuters.The memo also outlined a number of changes, from cutting back on trainings to embedding certain diversity programs into other departments such as Human Resources. In what seemed to be a reference to President Trumps recent executive orders targeting corporate DEI programs, Piepzak reiterated JPMorgans commitment to merit-based practices. (When reached for comment, a JPMorgan spokesperson shared the full text of the memo and noted that the company had started making these changes following the Supreme Court ruling on affirmative action in 2023.)Weve always been committed to hiring, compensation, and promotion that are merit-based; we do not have illegal quotas or pay incentives, and we would never turn someone away because of their political or religious beliefs, or because of who they are, Piepzak said in the memo. Were not perfect, but we take pride in constantly challenging ourselves and raising the bar.As the Trump administration has fixed its sights on DEI efforts in the private sector, leading finance companies have reevaluated their language on diversity. According to a recent report by Gravity Research, the risk of DEI-related litigation has been of particular concern to finance executives, and the Wall Street Journal reported last month that many banks (among them JPMorgan) were auditing their diversity programs and planning to adjust their public language on DEI in upcoming regulatory filings. In February, Citigroupwhich also happens to be the only major bank with a female CEOretreated from some of its diversity goals and renamed its DEI team.Even prior to the latest change at JPMorgan, its outspoken CEO Jamie Dimon had made several comments about the companys DEI programs in recent months. Speaking at an internal town hall last month, Dimon said he was never a firm believer in bias training, seemingly a reference to unconscious bias trainings (which have been criticized as ineffective). Dimon also claimed that the company had overspent on certain DEI initiatives. I saw how we were spending money on some of this stupid shit, and it really pissed me off, Dimon said, according to a Bloomberg report. Im just gonna cancel them. I dont like wasted money in bureaucracy.All the while, however, Dimon has continued to preach support for diversity programs and underscored JPMorgans commitment to diversity and inclusion work. Were still going to reach out to the Black, Hispanic, LGBT, veteran, [and] disabled communitieswere not changing that, he said in a subsequent CNBC interview. But if we did something wrong with DEI, were going to fix it. I never had a problem admitting that we did too much and we need to change something.

March has been a month of back-to-back blows to Elon Musks Tesla, and now theres yet another concern to add to the list.New data from Edmunds shows that Tesla drivers are on track to trade in their vehicles at an all-time high this month. According to the report, Tesla cars from model year 2017 and newer accounted for 1.4% of all vehicles traded in until March 15up 0.4% from March 2023 and 1.2% from last month.If the trend continues in the second half of March, it will represent a bleak new record of dissatisfied Tesla customers. The trade-ins are representative of the wide-scale backlash faced by the brand as Musk, its billionaire CEO, claims unprecedented administrative power in the U.S. government even while Teslas vehicles are recalled at alarming rates. Teslas backlog of woesTeslas stock has been on a sharp decline since early December, a trend thats only been exacerbated by investors mounting fears surrounding Musks sweeping cuts to federal programs and funding through the so-called Department of Government Efficiency (DOGE).The brands problems are mounting almost too quickly to count: plummeting sales in Europe and China, major advancements from Chinese EV competitor BYD, a spike in both Tesla vandalisms and wide-scale protests in response to DOGEs cuts, and then Thursdays recall of nearly all Cybertrucks. The recall was due to an exterior panel that could detach during drivingand its just one of a laundry list of design issues that have historically plagued the brand.All of this has culminated in an increasingly negative outlook for Tesla. As of yesterday, the brands stock is down 42% since the beginning of 2025, with some analysts estimating that Musk has lost more than $100 billion since December (though its important to note that shares are still up more than 40% year over year.) And now, Edmundss new data shows that even Tesla drivers are feeling less confident about the companys vehicles.In an interview with Reuters, Edmundss head of insights, Jessica Caldwell, said, Brand loyalty is becoming a bigger question mark as factors such as Elon Musks increasing public involvement in government, Tesla depreciation concerns, and its increased saturation in major metro areas leave some longtime owners feeling disconnected from the brand.According to Reuters, Edmunds analysts predict that used-Tesla prices will likely decline as Tesla trade-ins reach the market. Thats on top of a Fast Company analysis earlier this month that found that the price of used Tesla Model 3 and Model Y vehicles depreciated more than any other cars in 2024.Over the past couple months, some regretful Tesla owners have resorted to putting bumper stickers on their vehicles with such phrases as, I bought this before we knew Elon Musk was crazy, or even attempting to rebadge their Teslas entirely to distance themselves from the brand (and no doubt, avoid potential vandalism). Based on Edmundss new data, it seems that many are deciding to take their disavowal one step further.

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