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AP/Frank Franklin II

JPMorgan Chase set to open its first DC-area branches

JPMorgan Chase said it will open up to 70 new branches and hire 700 employees in Virginia, Maryland and the District. The company will commit $4 billion over five years for regional home and small business lending, increase lending to construct affordable rental housing and increase its philanthropic investment from $10 million to $25 million "to drive inclusive economic growth in the region."

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