Wells Fargo axes another 13 branches in a single week as a host of banks shut down vital services – is YOURS on the chopping block?
- Wells Fargo filed to close thirteen locations: five in California and three in Florida
- KeyBank, with branches in the Northwest and Northeast, will close ten ‘charters’
- Do you still go to the bank or arrange your finances online? E-mail money@dailymail.com about how closures may or may not affect you
Six banks filed last week to close nearly 40 branches, leaving millions of Americans without access to essential financial services, with Wells Fargo alone cutting 13 locations.
Wells Fargo has been a leader in branch closures across the country. Wells Fargo closed 160 in the first half of the year, according to data from S&P Global Market Intelligence.
And the latest filings with the regulator, the Office of the Comptroller of the Coin (OCC), indicated that five would now close in California, three in Florida and another five elsewhere in the country.
An application by regional bank KeyBank to close 10 branches was unique because nine of those “branches” were in fact “charters” that allowed a handful of retail customers to make deposits, a bank spokesperson told DailyMail.com.
(See the full list below to see if your branch is on the chopping block.)
Wells Fargo has filed to close five locations in California, three in Florida and another five elsewhere in the country
KeyBank has said the ‘branches’ it has filed to close are actually ‘charters’ that allow their private banking customers to make deposits
“KeyBank has made the business decision to enter into nine charters for Key Private Bank offices,” spokesperson Meg Lower said in a statement to DailyMail.com.
“These charters allowed Key Private Bank to collect deposits from customers at its offices in these various locations. As part of the charter closing process, we filed the appropriate notice with the OCC last week, which was labeled a branch closure.”
Unlike Wells Fargo, whose branches are spread across a number of states, KeyBank is limited to a handful in the Northeast and Northwest. Four of KeyBank’s closures occurred in Ohio.
US Bank, Citizens, Chase and Associated Bank also had to be notified of closures this week, with seven, three, two and one proposed respectively.
Associated is headquartered in Green Bay, Wisconsin, and has 200 locations in Wisconsin, Illinois and Minnesota.
This year alone, a total of 1,144 national and regional banks in 49 states closed between Jan. 1 and July 31, according to S&P data reviewed by DailyMail.com.
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.
Associated Bank is headquartered in Green Bay, Wisconsin, and has 200 branches in Wisconsin, Illinois and Minnesota
The U.S. Bank filed to close seven branches last week, according to the OCC’s weekly bulletin. Pictured is a branch in Minnesota
Between Nov. 5 and Nov. 11, Chase reported to the OCC that it would close two locations in Connecticut and Illinois
When banks close a branch, they must notify the OCC.
In a statement to DailyMail.com earlier this year, 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.
Are you affected by the closure of bank branches or can you arrange your financial affairs online? Write us an email at money@dailymail.com.
Bank | City | Stands | Place |
---|---|---|---|
Wells Fargo | Los Angeles | CA | 5377 West Centinela Avenue |
Wells Fargo | Monrovia | CA | 535 South Myrtle Avenue |
Wells Fargo | San Jose | CA | 1705 N First Street |
Wells Fargo | Bakersfield | CA | 1309 North Chester Avenue |
Wells Fargo | Los Angeles | CA | 3550 Wilshire Blvd. |
Wells Fargo | Washington | DC | 3314 Wisconsin Avenue, NW |
Wells Fargo | Cape Coral | FL | 2307 Del Prado Boulevard |
Wells Fargo | Tampa | FL | 12233 North Florida |
Wells Fargo | Titusville | FL | Indian Riverlaan 219 |
Wells Fargo | Roswell | NM | 400 North Pennsylvania Avenue |
Wells Fargo | Bristol | FATHER | 244 Radcliffe Street |
Wells Fargo | Clemson | S.C | 720 McMillan Road |
Wells Fargo | San Antonio | TX | 750 East Mulberry |
KeyBank | Denver | CO | University Boulevard 101 |
KeyBank | Indianapolis | IN | Westmarktstraat 10 |
KeyBank | Portland | ME | One Canal Plaza |
KeyBank | Canfield | OH | 6575 Seville Drive |
KeyBank | Cincinnati | OH | 8160 Montgomery Boulevard |
KeyBank | Pepper pike | OH | 30100 Chagrin Boulevard |
KeyBank | Western lake | OH | Crockerpark Boulevard 166 |
KeyBank | Portland | OR | 1211 SW Fifth Avenue, Suite 300 |
KeyBank | Pittsburgh | FATHER | 11 Stanwix Street, 15th floor |
KeyBank | Seattle | WA | 1301 5Th Ave |
American bank | North Little Rock | AR | Main Street 201 |
American bank | Pueblo | CO | Constitution Road 1018 |
American bank | West Palm Beach | FL | 515 North Flagler Drive, Suite 2100 |
American bank | Rolling meadows | IL | Meijerlaan 1301 |
American bank | McMinnville | OR | 615 SW Keck drive |
American bank | Transfer | WI | 212 W Edgewater St |
American bank | Kenosha | WI | 7701 Green Bay Rd |
Citizens | Medford | MA | 760 Fellsway Plaza |
Citizens | Jumping field | MA | Vrijheidsstraat 1277 |
Citizens | Smithfield | RI | 446 Putnam pike |
JPMorgan Chase | Old Greenwich | C.T | 260 Sound Beach Ave |
JPMorgan Chase | Chicago | IL | West Lawrence Avenue 1101 |
Associated Bank | Lacrosse | WI | Rijksstraat 605 |