07:02 AM EDT, 10/02/2024 (MT Newswires) -- JPMorgan Chase ( JPM ) is planning to open nearly 100 new branches in low-income areas across the US, including rural towns with dwindling bank presence, the Wall Street Journal reported on Wednesday, citing chief executive officer Jamie Dimon as saying in an interview.

Some of the branches will have dedicated spaces where JPMorgan ( JPM ) could host small businesses and financial literacy workshops for the public, a model that the bank piloted five years ago, the report said.

JPMorgan ( JPM ) is hiring 75 community managers to work at some of these branches, the report added. The managers are expected to partner with community organizations to help teach residents how to grow their wealth, which will also help build trust in the bank's brand at the same time.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 206.35, Change: -0.69, Percent Change: -0.33