Loading ...US Banks are Shutting Down Fast
Banks closed 539 local branches across the country in the first half of the year – leaving more and more Americans without access to basic financial services.
https://x.com/ShadowofEzra/status/1812129758223770109
I’ve no doubt that the MSM is updating citizens on this daily – right?
While it is understandable that less bank branches are needed with migration to online banking, a basic number spread out in a reasonable geographic footprint is necessary. An example of going too far to save money by cutting cosyts is provided by TD Bank. They went from having a lot of local branches both from acquisitions and additional new branches to closing most of them and then relying on customers having access to a TD ATM through a relationship with Rite Aid. Now that Rite Aid went bankrupt and closed many of their locations, finding a TD Bank or ATM at a still existing Rite Aid is a lot harder to do.