Bank of America Corp is adding consumer branches in four new U.S. states, it said on Tuesday, bringing its national footprint closer to rival JPMorgan Chase & Co .
Bank of America will open new financial centers in Nebraska, Wisconsin, Alabama and Louisiana as part of a four-year expansion across nine markets, including Louisville, Milwaukee and New Orleans.
"By expanding our capabilities in these markets, we are able to better serve clients, and help drive local community growth," CEO Brian Moynihan said in a statement. Inflation is still higher than the Federal Reserve wants, which means the central bank will need to keep raising rates, he said.
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