Even as JPMorgan plans to open 70 new locations around the largely wealthy Washington, D.C. area, the bank is pulling back in less affluent neighborhoods, Crain's reported. A year ago, the bank said it plans to spend billions to open 400 branches and boost lending in a national expansion. So far, JPMorgan has applied to open 185 new branches, with 71 percent of them in more affluent areas. Of the 187 branches its closing, about half are in areas where the median income is lower than the national level of about $60,300.