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February 25, 2015

JPMorgan to close 5% of its bank branches

  • Tellers handled only 42 percent of all bank deposits last year, according to JPMorgan, down from 90 percent in 2007.
    • By KEN SWEET
    AP Business Writer

    NEW YORK — JPMorgan Chase plans to close 300 bank branches over the next two years, about 5 percent of the total, as more customers move online and the bank seeks to cut costs.

    The closures are part of a $1.4 billion cost-cutting plan the bank announced for this year. The latest developments were revealed during the bank's annual investor day conference Tuesday.


     
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