Larchmont’s “Mass Affluent” Bank

Just in case you missed the front page New York Times story Sunday, the Chase Private Client bank in Larchmont, which is across the street from a “regular” Chase Bank, is billed as serving not the 1%, but “the 10%.” The real target is what bankers call the ‘mass affluent,” a much larger group that JPMorgan Chase and giant rivals like Citigroup, Bank of America and Wells Fargo all covet as they earn less from ordinary savers. MORE