Article

2023-10-15 Economy

Major Banks Close Over 3,000 Branches Nationwide, With Recent 50+ Closures from Bank of America In Just One Week

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Posted by Besoeker 2023-10-15 01:12|| || Front Page|| [14 views ] Top

#1 This has been going on at B of A since before I retired nine years ago. With fewer and fewer people using branches, they have become money losers. And if a branch can't earn a profit, well...

It is not 1950 anymore, and banks are just reacting to market signals.

Posted by Tom 2023-10-15 13:13|| 2023-10-15 13:13|| Front Page Top

#2 Well, you can't have bank closures if they're already closed. Less places for people to like up when the failures occur and all that.

Posted by ed in texas 2023-10-15 13:45|| 2023-10-15 13:45|| Front Page Top

#3 Branch banks are a luxury build for most banks and a necessity for many banks because their parent bank is deep downtown where there is no convenient parking. Basically a lot of banks need to cut salary overhead ...so SNIP!

Posted by magpie 2023-10-15 19:06|| 2023-10-15 19:06|| Front Page Top

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