Washington takes center stage in bank branch battles [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
Washington takes center stage in bank branch battles | Reuters 4 Min Read WASHINGTON (Reuters) - JPMorgan Chase & Co ( JPM.N ) has made a splash this year in Washington, D.C. opening branches for the first time in the nation’s capital. Smaller branches, ATM kiosks and mobile phone apps are allowing the bank to go into markets more quickly and for less money now than five years ago, JPMorgan executives said. Banks can venture out now because they have cleaned up regulatory problems since the 2007-2009 financial crisis. President Donald Trump’s tax cut left them with cash to invest. Washington is a prime battle ground, and JPMorgan considers the region the third biggest in the country by population and gross domestic product. No bank dominates. The top three hold between 14 percent and 17 percent of deposits in the region, compared with Chase’s 32 percent share in the New York City area. (Graphic: tmsnrt.rs/2SCaVzC ) “If you want to be the premier American bank you want to be in all o
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