{"id":2262240,"date":"2024-06-07T12:32:01","date_gmt":"2024-06-07T16:32:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-banks-close-79-branches-over-6-weeks-in-cost-cutting-move\/"},"modified":"2024-06-07T12:34:33","modified_gmt":"2024-06-07T16:34:33","slug":"report-banks-close-79-branches-over-6-weeks-in-cost-cutting-move","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-banks-close-79-branches-over-6-weeks-in-cost-cutting-move\/","title":{"rendered":"Report: Banks Shut Down 79 Branches in Six Weeks to Reduce Costs"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freport-banks-close-79-branches-over-6-weeks-in-cost-cutting-move%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2262240&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>&#8220;> <\/p>\n<p>The article &#8220;U.S. Banks Close 79 Branches\u200c in Just 6 Weeks, See the Harsh Realities of the Digital Shift&#8221; discusses\u200d the \u2062growing trend of banks\u200c shifting\u2064 towards digital services and the\u2062 consequences of this for traditional, brick-and-mortar \u2064branches. In just six weeks, 79 branches have closed across various states, with more than 400 closures expected this year. Major\u2062 banks such as JPMorgan Chase, \u2064Wells Fargo, and\u2063 Bank of \u200cAmerica have announced closures, citing consolidation and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lawsuit-alec-baldwin-had-no-reason-to-fire-gun-during-scene-being-rehearsed\/\" title=\"Lawsuit: Alec Baldwin Had No Reason to Fire Gun During Scene Being Rehearsed\">cost-cutting measures<\/a>.\u200b These closures, coupled \u2063with \u200bthe\u200b increasing preference for digital banking, have raised concerns about the impact on older individuals and local communities. The article\u2062 also mentions the significance of the 2024\u2063 election and\u200d urges readers to\u2063 support the Western Journal&#8217;s coverage.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/news\/\">  News <\/a>   <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/anazarian\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/anazarian\/%20\"><span>Adelle Nazarian<\/span><\/a> <\/span> <span>   June 7, 2024 at 9:11am <\/span> <\/span>  <\/header>\n<section>\n<p>As banks increasingly shift to digital services, banks have closed 79 U.S. branches in just six weeks across various states, according to the U.K.\u2019s <a href=\"https:\/\/www.dailymail.co.uk\/yourmoney\/banks\/article-13494839\/us-bank-branche-closures-jpmorgan-wells-fargo.html\" target=\"_blank\" rel=\"noopener\">Daily Mail<\/a>.<\/p>\n<p>More than 400 brick-and-mortar branches have been shuttered this year, the outlet reported Wednesday.<\/p>\n<p>JPMorgan Chase, Wells Fargo, Bank of America, BankUnited, BMO Bank, Citizens Bank and Inwood NB were among those who announced closures.<\/p>\n<p>The Daily Mail provided a <a href=\"https:\/\/www.dailymail.co.uk\/yourmoney\/banks\/article-13494839\/us-bank-branche-closures-jpmorgan-wells-fargo.html\" target=\"_blank\" rel=\"noopener\">comprehensive list<\/a> of the locations that are closing for anyone wishing to identify whether they will be affected.<\/p>\n<p>California saw the greatest number of <a href=\"https:\/\/www.westernjournal.com\/bidenomics-national-burger-chain-considers-chapter-11-bankruptcy\/\" target=\"_blank\" rel=\"noopener\">closures<\/a>, according to the report.<\/p>\n<p>JPMorgan shut down 18 branches; Wells Fargo shuttered 17, including eight in just the past week; and Bank of America filed to close 16 locations in states across the country, including California, Florida and New Jersey.<\/p>\n<p>According to the consulting firm Bancography, the move is part of an attempt to consolidate locations, which yields significant annual savings, while appealing to a <a href=\"https:\/\/www.westernjournal.com\/economic-bloodbath-us-retail-confirm-169-closures-12-3-favorite-store-included\/\" target=\"_blank\" rel=\"noopener\">shift<\/a> from rural to urban markets, the Daily Mail reported.<\/p>\n<p>In January and February, <a href=\"https:\/\/www.dailymail.co.uk\/yourmoney\/article-13160397\/bank-closure-wells-fargo-bank-america-pnc.html\" target=\"_blank\" rel=\"noopener\">222 banks<\/a> closed their branches across the United States.<\/p>\n<p>Between April 7 and 13, TD Bank, Wells Fargo, Bank of America and JPMorgan Chase shut a total of <a href=\"https:\/\/www.dailymail.co.uk\/yourmoney\/banks\/article-13336517\/bank-branch-closures-td-bank-wells-fargo-one-week.html\" target=\"_blank\" rel=\"noopener\">36 branches<\/a>.<\/p>\n<div id=\"firefly-poll-container\">\n<p>Does traditional banking have a future?<\/p>\n<\/p><\/div>\n<p>The last time the number of bank branches <a href=\"https:\/\/www.westernjournal.com\/bidenomics-devastation-5500-store-closures-23-30-favorite-next\/\" target=\"_blank\" rel=\"noopener\">increased<\/a> was in 2011, when there were more than 85,000 branches nationwide, according to the Federal Deposit Insurance Corp.<\/p>\n<p>That number has since decreased to about 70,000.<\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">Didn\u2019t know there were 70,000 bank branches in the US \u2026 <a href=\"https:\/\/t.co\/rOlNSjTHle\">pic.twitter.com\/rOlNSjTHle<\/a><\/p>\n<p>\u2014 Aurelius (@Aureliusltd28) <a href=\"https:\/\/twitter.com\/Aureliusltd28\/status\/1756681670168608836?\">February 11, 2024<\/a><\/p>\n<\/blockquote>\n<p>One of the demographics that will be most affected by the move from brick-and-mortar banks to online banking is older members of the population who are not as fond of digital banking.<\/p>\n<p>It also will impact local communities and businesses \u2014 and we may be witnessing the bitter end of traditional banking.<\/p>\n<p>Each week, banks must tell the Treasury Department\u2019s <a href=\"https:\/\/www.occ.treas.gov\/\" target=\"_blank\" rel=\"noopener\">Office of the Comptroller of the Currency<\/a> about branch openings and closures.<\/p>\n<p>In January, Republic First Bank, which was operating in Pennsylvania, New Jersey and New York, was <a href=\"https:\/\/www.westernjournal.com\/fdic-seizes-republic-first-bank-sells-competitor\/\" target=\"_blank\" rel=\"noopener\">seized by the FDIC<\/a> and sold to Fulton Bank.<\/p>\n<p>Republic Bank\u2019s 32 branches were set to reopen as Fulton Bank branches.<\/p>\n<p>The failure, which will cost the deposit insurance fund $667 million, followed a trend of regional banks struggling due to higher interest rates and commercial real estate loan issues.<\/p>\n<hr>\n<div>\n<p><b><i>An Important Message from Our Staff:<\/i><\/b><\/p>\n<p><i><span>In just a few months, the world is going to change forever. The 2024 election is the single most important election of our lifetime. <\/span><\/i><\/p>\n<p><i><span>We here at The Western Journal are committed to covering it in a way the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/caitlin-clark-lands-historic-nike-shoe-deal-worth-millions-just-before-her-rookie-season-kicks-off\/\" title=\"Caitlin Clark Secures Multi-Million Dollar Nike Deal Ahead of Rookie Season Kickoff\">establishment media simply<\/a> will not: We will tell the truth, and they will lie.<\/span><\/i><\/p>\n<p><i><span>But Big Tech and the elites don\u2019t want the truth out. That\u2019s why they have cut us off from 90% of advertisers. Imagine if someone cut your monthly income by 90%. That\u2019s what they\u2019ve done to people like us. <\/span><\/i><\/p>\n<p><i><span>As a staff, we are asking you to <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  to fight this once-in-a-lifetime fight. Without you not only will The Western Journal fail, but America will fail also. As Benjamin Franklin said, \u201cWe must all hang together, or assuredly we shall all hang separately.\u201d<\/span><\/i><\/p>\n<p><i><span>Will you support The Western Journal today and <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>become a member<\/span><\/i><\/a><i><span>? <\/span><\/i><\/p>\n<p><i><span>A Western Journal <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Membership<\/span><\/i><\/a><i><span>  costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content \u2014 news, commentary, and premium articles. You\u2019ll experience a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/making-a-dent-liability-fears-are-driving-providers-to-drop-gender-affirming-care-for-kids-even-where-its-legal\/\" title=\"Liability fears force providers to abandon 'Gender-Affirming Care' for kids, despite legality.\">radically reduced number<\/a> of ads, and most importantly you will be vitally supporting the fight for America\u2019s soul in 2024.<\/span><\/i><\/p>\n<p><i><span>This is the time. America will live or die based on what happens this year. Please <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  to get the real truth out and to fight the elites, Big Tech, and the people who want America to fail. Together, we really can save the country.<\/span><\/i><\/p>\n<p><b><i>Thank you for your support!<\/i><\/b><\/p>\n<p><i><span>P.S. <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Please stand with us<\/span><\/i><\/a><i><span>!<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-45819\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/anazarian\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-45819\">Summary<\/label><label for=\"more-info-tab-radio-45819\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-45819\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-45819\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Adelle Nazarian has over 15 years of experience in journalism, geopolitics, and the media world. She is also an entrepreneur who has founded and served as CEO of several organizations. She enjoys traveling, is constantly learning and is inquisitive by nature. Adelle speaks English, Persian (Farsi), French and Mandarin Chinese. Follow Adelle Nazarian on X @AdelleNaz.<\/p>\n<\/p><\/div>\n<div>\n<p>  Adelle Nazarian has over 15 years of experience in journalism, geopolitics, and the media world. She is also an entrepreneur who has founded and served as CEO of several organizations. She enjoys traveling, is constantly learning and is inquisitive by nature. Adelle speaks English, Persian (Farsi), French and Mandarin Chinese. Follow Adelle Nazarian on X @AdelleNaz. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As banks pivot to digital services, 79 U.S. branches closed in six weeks, reports the U.K.&#8217;s Daily Mail. Over 400 physical branches have shut down this year, with major banks like JPMorgan Chase and Wells Fargo among those reducing their physical presence<\/p>\n","protected":false},"author":2870,"featured_media":2262241,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/branch-closing.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2262240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/branch-closing.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2262240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2870"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2262240"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2262240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2262241"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2262240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2262240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2262240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}