New York City Comptroller William C. Thompson, Jr. today issued the following statement at the ribbon cutting of Capital One’s new bank branch in East Harlem. The new branch will receive a deposit from New York City as part of the Banking Development District (BDD) program, which helps establish new bank branches in underserved communities.

“The addition of a bank to a community currently undergoing revitalization is a key step in the financial success and business growth of its residents. This new branch signifies the bright fiscal future of East Harlem and will provide an avenue of financial stimulation for the local economy. Through the work of the Banking Development District program we are providing New Yorkers who do not have banking relationships to become part of the financial mainstream. It’s a win-win situation.”

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