NEW YORK (1010 WINS) -- About 1,000 Chase bank branches are temporarily closing in light of the coronavirus pandemic, its parent JPMorgan Chase announced Wednesday, according to the Financial Times.
Chase -- which has a significant presence in New York City -- has about 5,000 branches across 38 states.
The closures mark the first of a major U.S. bank to do so.
"Executives told staff on Wednesday that the bank would close about a fifth of its Chase branches to protect its staff and customers," FT reported, citing sources.
"The closures fall heaviest in areas where there are other branches nearby, to minimize customer disruption," the newspaper reported.