Almost 10,000 American Bank Branches shut down since 2019 – June 13 2023

Posted on June 13, 2023 by fromthefirstorder

Almost 10,000 American Bank Branches shut down since 2019

Posted By: RumorMail
Date: Tuesday, 13-Jun-2023 12:47:34
http://www.rumormill.news/224263

I know ours did. It wasn’t because they didn’t have customers. Every time you went there, the parking lot was full. There were often long lines to actually see (or talk to) a worker to fix a problem.Lynda***********************OAN’s Brooke Mallory
6:43 PM – Sunday, June 11, 2023Almost 10,000 bank branches have closed in the United States in the last few years, hastening the country’s shift to computerized, automated banking and less need for bank employees.The closing of bank branches has been gradually intensifying, with closures reaching an all-time high last year.According to data from S&P Global Market Intelligence, the number of facilities closing down increased from 1,417 in 2019 to 3,066 in 2022.Since 2019, 9,536 brick-and-mortar branches of small and large heritage banks have shuttered, leaving many disadvantaged areas without access to essential financial services.According to the statistics, Truist Bank topped the field in terms of branch closures in 2022, closing 422 locations throughout the country, while Bank of America closed 322.With rampant inflation and rising living costs, some experts advise that clients and customers may wish to examine their finances with their bank in person.Branches are a lifeline for anybody who needs to talk with a staff member in person or do simple operations like cashing a check, making a small deposit, or obtaining cash. Due to the decreasing number of locations, citizens must drive longer distances to their nearest bank, which often disadvantages vulnerable and elderly customers.

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