Bloomberg: JPMorgan leads banks’ flight from poor neighborhoods

Bloomberg, March 6th, 2019: JPMorgan leads banks’ flight from poor neighborhoods

Nationally, banks have shut 1,915 more branches in lower-income neighborhoods than they’ve opened in the four years through 2018, according to S&P Global Inc. The three largest consumer banks — JPMorgan, Wells Fargo and Bank of America — led the way, S&P said.

JPMorgan has consistently had a smaller proportion of its branches in low- and moderate-income areas than its two rivals over the last 12 years, Federal Deposit Insurance Corp. data show.

 

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