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JPMorgan Leads Banks’ Flight from Poor Neighborhoods

  • Biggest banks closing more branches in lower-income areas
  • Industry cuts number of locations in age of online banking
A new JPMorgan Chase & Co. bank branch in Arlington, Virginia.

A new JPMorgan Chase & Co. bank branch in Arlington, Virginia.

Photographer: Andrew Harrer/Bloomberg

Updated on

Aberdeen, Washington, is a far Northwest outpost of JPMorgan Chase & Co., with one lonely branch perched near the Pacific, 2,900 miles from Wall Street.

Now the bank is planning to depart the rainy timber town that gave the world Kurt Cobain. The next-closest Chase branch is 40 miles away.