America’s biggest banks are closing hundreds of branches


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America’s biggest banks are closing hundreds of branches.

Bank of America, Citigroup and JPMorgan shut 389 branches since the third quarter of last year.

Bank of America, which had over 6,000 branches before the financial crisis has now shrank to 4,629, according to third quarter accounts.  The bank has cut 112 financial centers from last year.

Paul Donofrio, CFO of Bank of America, said the closing of branches was part of a “shift to self-served digital channels, mobile, online, and ATM” in a 3Q earnings call transcript.

Read on.

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About Here and Now

I write, blog, publish and rant about issues concerning foreclosure, real estate law and any topic of interest. My day job is Fashion and Costume Design.
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