Bank of America and Chase to Close 15 Locations Together Amid Widespread ‘Bank Branch Massacre’ – Is YOUR Local One Affected?
- Banks in the U.S. filed last week to close 19 closures across the country
- Bank of America reported the upcoming closure of nine, Chase reported six
- Data shows that a total of 1,144 bank branches were closed in the first half of the year
Bank of America filed last week to close nine branches and Chase filed to close six.
Citizens, Trustco, Patriot and US Bank also each reported upcoming branch closures, according to the latest bulletin from their regulator, the Office of the Comptroller of the Monet (OCC).
In total, banks across the country notified the OCC of the closure of 19 branches between October 29 and November 4.
Five of those affected California, in Castaic, Hermosa Beach, Oakland, Valencia and Wilmington.
During that same time frame, Chase notified the regulator that it would open four locations in Pennsylvania, Wisconsin, New Jersey and Missouri.
Bank of America last week filed to close nine branches, according to a weekly bulletin published by the Office of the Comptroller of the Monetary Fund.
In total, banks across the country notified the OCC of the closure of 19 branches between October 29 and November 4. Chase has notified the regulator of 10, two of which were in California.
Trustco currently has approximately 145 locations throughout New York, Florida, Massachusetts, New Jersey and Vermont.
Patriot is a relatively small bank based in Connecticut with fewer than ten branches in the state and one in Scarsdale, New York.
The only closure reported by US Bank that week occurred in Portland, Oregon.
This year alone, a total of 1,144 national and regional banks closed between Jan. 1 and July 31 in 49 states, according to S&P Global Market Intelligence data reviewed by DailyMail.com.
It was found that New Jersey had the highest rate of bank closures of any U.S. state.
And these latest closures come after an exclusive DailyMail.com poll found that 51 percent of consumers said they were very or somewhat concerned about the dwindling number of bank branches.
The study also found that physical services were less accessible to Black Americans. While 14 percent of black Americans said they don’t have a local chapter, only 8 percent of white Americans did.
When banks close a branch, they must notify the OCC.
The only closure between October 29 and November 4 reported by US Bank occurred in Portland, Oregon
Between October 29 and November 4, Citizens filed to close a single bank in Concord, Massachusetts
Trustco currently has approximately 145 locations throughout New York, Florida, Massachusetts, New Jersey and Vermont
In a statement to DailyMail.com in August, a spokesperson said: “The OCC understands the importance of bank branches and is committed to supporting access to banking services in all communities.”
They also noted that while banks and credit unions must notify their “primary regulator” of closures, the law requiring them to do so does not allow the regulator to object to the closure.
It also noted that the OCC does not regulate all banks in the U.S. and that banks have some discretion regarding whether to close a branch after filing.
“Typically, notices appear when the transactions are effective, although branch closures typically appear when the OCC receives notice of the proposed closure,” they said.
|bank of America||Castaic||CA||29687 The old road|
|bank of America||Hermosa Beach||CA||Pierlaan 90|
|bank of America||Oakland||CA||300 Lakeside Drive|
|bank of America||Punta Gorda||FL||Oost-Olympialaan 126|
|bank of America||Silver spring||MD||8788 Georgia Avenue|
|bank of America||St Louis||MO||1155 Saint Louis Gallery|
|bank of America||New York||N.Y||Columbuslaan 808|
|bank of America||Franklin||TN||213 5th Avenue N|
|bank of America||Norfolk||VA||Monticello Avenue 300|
|Pursuit||Valencia||CA||25882 McBean Pkwy|
|Pursuit||Wilmington||CA||140 West Anaheim Street|
|Pursuit||Roseville||MI||30730 Groesbeck Hwy|
|Pursuit||Corona||N.Y||Meridian Street 8|
|Pursuit||Pataskala||OH||8875 Broad St, SW|
|Pursuit||Rocky river||OH||21810 Center Ridge Road|
|Patriot||Orange||C.T||Oude Taverneweg 7|
|American bank||Portland||OR||321 SW 6th Ave|