Monday, September 23, 2024

Major U.S. Bank Closings: Banks have closed 539 branches in just six months


Major US banks including Bank of America and Chase closed 55 branches in just two weeks - is YOURS affected?



US banks have closed more than 50 branches in just two weeks, as the march towards online banking continues to decimate local services.

Wells Fargo, Chase, and Fulton were among the banks who closed locations between August 19 and September 7. 

Bank of America and Chase gave notice to close the most locations, notifying the regulator that they will shut a further twelve of their branches each. 

Wells Fargo informed the Office of the Comptroller of the Currency (OCC) that it would be shuttering nine locations, and Fulton confirmed it would be closing seven. 

The rest of the closures, which spanned from Arizona to New Jersey, were closed by First National Bank of Long Island, Flagstar, Moody, PNC, Santander, UMB and Zions Bancorporation. Scroll down for the full list with addresses. 

The closures were confirmed to the OCC, which monitors branch closures and openings and publishes them in a weekly bulletin.

Major banks are increasingly moving away from expensive brick-and-mortar branches in favor of online services.

US banks shut 539 branches in just the first half of the year, research by DailyMail.com shows.



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