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JPMorgan Chase to open branches, invest in Baltimore-Washington area

JPMorgan Chase to open branches, invest in Baltimore-Washington area

The banking giant JPMorgan Chase & Co. plans to expand into the Maryland-Washington, D.C.-Virginia area first as it invests $20 billion in up to 20 new markets in the next five years, bank officials announced Thursday.

The New York-based bank, the largest in the nation, plans to open 70 new Chase Bank branches and hire up to 700 new employees in the region, including in Baltimore. About 20 percent of the branches will be in low-to-moderate-income communities in Baltimore and Prince George’s County in Maryland and in Washington.

It plans to commit $4 billion for home and small business lending and increase its lending for affordable rental housing to $500 million in the...

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