Major financial institutions seem to be accelerating a trend that many conservatives find alarming: the closure of physical bank branches.
According to a bulletin published by the Office of the Comptroller of the Currency (OCC) on Friday, Bank of America led the way by closing 21 branches in just the first week of October.
Wells Fargo was not far behind with 15 closures, while US Bank and Chase reported closing nine and three branches, respectively, according to the Daily Mail . 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 including Wells Fargo and JPMorgan Chase reported their third quarter earnings. Increased revenue thanks to higher interest rates saw both banks’ revenues increase. […]
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