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JP Morgan escalates deposit wars with expansion into the heart of Bank of America country

JP Morgan escalates deposit wars with expansion into the heart of Bank of America country

March 13, 2019

Via: CNBC

As J.P. Morgan Chase builds out its web of branches across the U.S., it is launching into areas long dominated by two of its biggest rivals.

J.P. Morgan is expanding into nine new U.S. markets as it fills gaps in its network of physical locations, according to a release seen by CNBC. Bank of America or Wells Fargo are a top lender in seven of those nine cities, according to Federal Deposit Insurance Corporation data.

The new markets are Charlotte and Raleigh, North Carolina; Greenville, South Carolina; Kansas City, Kansas; Minneapolis; Nashville, Tennessee; Pittsburgh; Providence, Rhode Island; and St. Louis.

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