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DETROIT-Bank One says it plans to invest $3.1 billion in Detroit between 2005 and 2007. Included in the total, Bank One says, will be at least $120 million dedicated to commercial real estate projects.

Bank One, working with the Detroit Alliance for Fair Banking, has been making commitments in Detroit with the Detroit Alliance for Fair Banking since 1990.

Bank One says its goals under the plan include $2.7 billion for businesses, $100 million for home mortgages and $215 million for consumers.

“Our bank wants to support Detroit’s rebirth by providing lending and investment tools its residents and businesses need,” says Dick Wade, president of Bank One in Michigan. “We can achieve the best results by partnering with community leaders like the Detroit Alliance for Fair Banking.”

“With the anticipated merger between Bank One and JP Morgan Chase, this investment pledge demonstrates and establishes the bank’s continued commitment to the city of Detroit,” says Bernard Parker, Wayne County commissioner and chairman of the Detroit Alliance for Fair Banking.

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