Bank of America closes 21 branches in
ONE WEEK while Wells Fargo shutters 15
- is your local on the list?
Daily Mail (UK),
by
Neirin Gray Desai
Original Article
Posted By: Imright,
10/13/2023 5:48:58 PM
Major US banks are continuing to close branches across the US, leaving an increasing number of Americans without access to basic financial services.
Bank of America axed 21 branches in the first week of October, according to a bulletin published by the Office of the Comptroller of the Currency (OCC) on Friday.
Wells Fargo shuttered 15, while US Bank and Chase reported closing nine and three respectively. In total, some 54 locations had either closed or were scheduled to close between October 1 and October 7. Of the overall closures, three were in Louisville in Kentucky. Eight of the 21 Bank of America closures were in California.
On Friday, major US banks
Reply 1 - Posted by:
reefdiver 10/13/2023 6:07:57 PM (No. 1576741)
If you have no money you probably don't need a bank branch.
25 people like this.
Reply 2 - Posted by:
formerNYer 10/13/2023 6:09:22 PM (No. 1576743)
Bidenomics is working exactly like it's supposed to.
38 people like this.
Reply 3 - Posted by:
bamapreacher 10/13/2023 6:14:04 PM (No. 1576748)
I think that there should be a law that says if a bank closes a branch in some town they should have to arrange with another bank in the same town to accept their debit cards to withdraw cash with no fees on either side. If I need cash I have to drive 15 miles to get it from a Wells Fargo ATM. The cost of gas is less than the cost of their fees plus the other bank's fees.
14 people like this.
Reply 4 - Posted by:
watashiyo 10/13/2023 6:20:23 PM (No. 1576751)
The government will become the bank as soon as they implement the Digital Currency. Soon, they can dictate how you can spend THEIR money. .......socialism is right around the corner.
36 people like this.
Reply 5 - Posted by:
Dodge Boy 10/13/2023 6:30:41 PM (No. 1576758)
A Wells Fargo branch in my western Colorado town closed back in August.
12 people like this.
Reply 6 - Posted by:
nwcudagal 10/13/2023 6:33:01 PM (No. 1576759)
I've banked with many of the big ones. Their fees became outrageous so several years ago I went with a local credit union which was fairly new. Today all the Wells Fargo, US Bank and others are closing branches right and left where I live whereas my credit union just built a huge corporate HQ and has dozens of new branches. The rates for loans are low and interest rates for savings are above average. There are always lines at the drive-up and in-branch. I don't have a lot of money, but what I have is important to me. I don't trust the big banks anymore.
32 people like this.
Reply 7 - Posted by:
LadyHen 10/13/2023 7:10:45 PM (No. 1576780)
This is a silly article. 21 BOAs out of 3,900 branches and 15,000 atms.
Banks merge, build new branches, close down branches that are too expensive to run, and move locations as populations shift all the time.
Here is the REAL reason for this ridiculous article (all these banks closing is "Racism" btw):
fta "The survey also found that brick-and-mortar services are less accessible to black Americans. While 14 percent of black Americans said they did not have a local branch, that was only the case for 8 percent of white Americans."
16 people like this.
Reply 8 - Posted by:
DVC 10/13/2023 7:43:09 PM (No. 1576798)
Good riddance. Both are rotten companies.
12 people like this.
Reply 9 - Posted by:
itsonlyme 10/13/2023 8:27:03 PM (No. 1576810)
MANY more still to come.
2 people like this.
Reply 10 - Posted by:
Ketchuplover 10/13/2023 10:06:35 PM (No. 1576843)
I agree with #6. It's a 2-word solution: Credit Unions
13 people like this.
Reply 11 - Posted by:
Lawsy0 10/14/2023 1:52:00 AM (No. 1576894)
Bank of Serta works just fine hereabouts. Frozen assets are best kept in the freezer.
6 people like this.
Reply 12 - Posted by:
Muguy 10/14/2023 8:25:55 AM (No. 1576992)
This is the wave of the future....
Brick and mortar businesses, regardless of location, are being shuttered because they have rent, employee salaries, and other business costs. How many of U.S. citizens still do the entirety of their business trading in person at one of those bank locations?
Move to a smaller local bank or a credit union if you wan the personal touch. Times have changed whether we like it or not.
4 people like this.
Reply 13 - Posted by:
JHHolliday 10/14/2023 8:37:49 AM (No. 1577001)
More and more big banks are closing branches and trimming employees. The main reason is that the older generation, the ones that liked to go to their bank in person and do their banking, are dying out and the younger generations are moving almost all online. There is simply no need for all the personnel and real estate anymore.
3 people like this.
Reply 14 - Posted by:
Strike3 10/14/2023 9:47:49 AM (No. 1577041)
BOA and Wells Fargo are two of the worst banks in operation and have been for a couple of decades. The average American who is going under will have something to smile about when these crooked institutions join them.
1 person likes this.
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