JPMorgan Chase announces massive D.C.-area expansion


New York global financial juggernaut JPMorgan Chase & Co. is launching a massive retail banking expansion in Greater Washington, with up to 70 branches planned across the region.

The bank (NYSE: JPM) will hire about 700 employees and commit to $4.5 billion in local lending as part of the expansion. About 20 percent of the branches will be in low-income neighborhoods, including Ward 7 and 8 in the District.

CEO Jamie Dimon will formally announce the move Thursday in D.C. with Mayor Muriel Bowser,…

Previous Exclusive: WeWork grabs 14th San Francisco location, adding 1,300 desks
Next JPMorgan Chase announces massive Greater Washington expansion