BALTIMORE — As banks have been closing in many cities around the country, JPMorgan Chase plans to open more than 140 branches across Maryland, Virginia and Washington, D.C..
30 percent of the new branches are to be in underserved communities, including a community branch in West Baltimore.
This is part of a new model for the firm, to provide proactive financial support in communities that often lack access to traditional banking, and have larger minority populations.
"The honor and pleasure of this job is the fact that while we are building these wonderful spaces for the community at the same time, we are committed to lifting that community and we lift the community through financial health," said Rachel Oden, JPMorgan Chase executive.
Nationwide Chase has 12 of these branches with five more expected before the end of the year.
