Bank Closures Continue in the United States as Wells Fargo, TD Bank, Chase and Citibank Announce Branch Shutdowns
In the United States, the trend of bank closures has been causing concern among customers as more financial institutions announce the shutdown of their branches. Major companies have been significantly affected by this wave of closures, with Wells Fargo, TD Bank, Chase and Citibank being the latest to reveal their plans to close multiple locations.
According to the Office of the Comptroller of the Currency (OCC), TD Bank and Wells Fargo have been among the most prolific in closing branches. TD Bank is set to close at least 20 locations across the country, with branches in the northeastern states like New York, Vermont, Philadelphia, Maine, and South Carolina being affected.
Wells Fargo, on the other hand, is definitively closing eight branches in states like Florida, California, Georgia, Nevada, and North Carolina. Other major banks like Bank of America, Citibank, Liberty Bank, and Capital One are also joining the trend by closing branches in states such as California, New York, and Michigan.
Even Chase has plans to close branches, although specifics have not been disclosed yet. This wave of closures is not new, as Bank of America had previously announced the closure of 50 branches across the country starting in early 2024.
As bank closures continue to be a prevalent issue in the United States, customers are being urged to stay informed about any changes regarding their local branches. Stay tuned for more updates on this developing story.