A massive bank is now closing multiple branches in Colorado according to the Office of the Comptroller of the Currency (OCC).
Chase was included in the latest bulletin from the OCC advising of upcoming bank closures for 2024.
However, it’s important to note that in the United States major banks cannot close branches until the passing of a minimum of three months following their initial OCC bulletin listing.
The following Chase branches that are scheduled to permanently close in Colorado were updated by the Office of the Comptroller of the Currency for the week of November 11.
- 2040 South University Boulevard, Denver
- 11555 Meridian Market New, Falcon
- 9611 W 58th Ave, Arvada
Last month, Chase also closed several bank branches in New York.
“Existing customers will need to travel to the next closest Chase branch,” reports The-Sun.
Some customers have taken to X to beg the the bank to open up more locations in their area.
“The bank responded it “keeps track of popular requests through feedback and reviews expansion plans on a regular basis.”
Although bank closures aren’t unusual, the ripples of the pandemic and an economic downturn are making them too common.
There’s been an increasing number of closures and bankruptcies across every industry, big banks being the last ones to fall.
According to Kiplinger, Chase closed 144 branches last year while the entire industry saw more than 3,000 bank branches close down.
The-Sun reports that “many communities will be left in a “banking desert,” which means they lack access to a bank or credit union within 10 miles.
Online banking has been the primary reason as to why more and more traditional bank branches have increasingly closed down this year.
Also Read: A US Bank is Now Denying Customers Access to Money
Other Banking News Today
Bank of America is now freezing customer accounts according to the bank’s latest scandal and user reports.
A dad’s Bank of America account has suddenly closed overnight – leaving him broke and worried about feeding his family, reports The-Sun.
“They shut down my account without any notice or explanation… this is actually relatively common,” warned the shocked customer.
Elad Nehorai spent hours trying to access his life savings at a Bank of America branch in Los Angeles, reported local CBS affiliate KCAL News.
He complained about his treatment on X, formerly Twitter, saying: “I am with my wife & daughter in a @BankofAmerica office.
“They shut down my account with any notice or explanation, and we won’t be able to feed our family or pay medical expenses.
“We are staying here until it’s fixed. So far they have refused to even explain why they did this.”
His worrying post prompted a number of people to offer help in July.
One user said: “I sympathize with you Elad, BoA did this to my mother last year and it took us forever to get it worked out.
“Please let us know if we need to start up a fund drive for your family to tide you over until it gets resolved.”
Another user said: “I’m horrified that this is legal and apparently we have no recourse, even for answers.
“I am so naive, I didn’t think anything like this could happen here. Scary and frustrating.”
When the bank “heard CBS wanted to cover it [the story], the tone instantly shifted… the bank manager removed the hold on our account and transferred [his money] to another account.
“So, we have our money and can feed our family. That’s thanks to all of you,” Elad stated on X.
Also Read: Massive Layoffs in California Now Underway Prior to Holidays
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
Recommended For You ✨
About The Author
For more news and updates like this, opt-in for push notifications.
Leave your thoughts below.