Texas Is Now Overwhelmed With Massive Bank Closures
Texas is now overwhelmed with massive bank closures per new data from the Office of the Comptroller of the Currency (OCC).
PNC Bank has announced it will close 19 more locations across the United States in February, including three in Texas.
The bank employs over 60,000 people nationwide and is one of the largest financial businesses in the United States.
The following PNC Bank branches closing in Texas are the latest listed with the OCC:
- 407 S Commerce St, Harlingen
- 115 E Van Buren Ave, Harlingen
- 801 W Kearney St, Mesquite
However, Texas has recently become overwhelmed by the growing number of bank closures in the state.
The following bank branches have either recently closed, or are scheduled to shutter in Texas very soon:
- Wells Fargo. 1155 Union Circle, 2ND FL RM 222, Denton.
- Wells Fargo. 700 Jackson, Richmond
- Wells Fargo. 14999 Preston Rd, Building F, Dallas
- Verabank. 1100 Williams Dr, Georgetown
- Amerant Bank. 12145 FM 1960 West, Houston
- Wells Fargo. 3580 Frankford Rd, Dallas
- Wells Fargo. 1200 Flower Mound Rd, Flower Mound
- JP Morgan. 213 W Greens Rd, Houston
- Wells Fargo. 2824 Hillcroft St, Houston
- Bank of America. 9660 Hillcroft St, Houston
- Wells Fargo. 1420 West Mockingbird Lane, Dallas
- JP Morgan Chase. 16802 El Camino Real, Houston
- Capital One. 2301 E. Riverside Dr, Austin
- Capital One. 2910 S. Lakeline Blvd, Cedar Park
- Wells Fargo. 11152 S. Gessner Dr, Houston
- Woodforest NB. 80 Uvalde, Houston
- JP Morgan. 14114 Dallas Parkway, Dallas
- Wells Fargo. 1420 West Mockingbird Lane, Dallas
- JP Morgan Chase. 16802 El Camino Real, Houston
- JP Morgan. 1200 Clear Lake City Blvd, Houston
- JP Morgan. 3103 FM 528 Friendswood
- Home Bank. 12941 Gulf Freeway, Houston
- Home Bank. 251 West Medical Center, Webster
- Bank of America. 7900 Shoal Creek Blvd, Austin
- First NB. 5671 Treaschwig Rd, Spring
- First NB. 5671 Treaschwig Rd, Spring
- Bank of America. 7900 Shoal Creek Blvd, Austin
Between 2017 and 2021, 9% of all branches — almost 7,000 locations— shut their doors.
CNBC reports this leads to “banking deserts when communities are without access to a bank or credit union within 10 miles.
Several studies have shown these communities are more likely to use non-traditional and high-fee lending options such as payday loans and check-cashing services, which increases financial inequities and ends up widening the wealth gap.”
A poll by the DailyMail revealed that 51% of consumers said they were very or somewhat concerned about the declining number of bank branches.
And according to data from the Federal Deposit Insurance Corporation (FDIC), approximately 8,000 banks were in operation in 2000, but by 2022, this figure was halved.
Also Read: A US Bank is Now Denying Customers Access to Money
Other Banking News Today
A US bank is now stealing customers money in what appears to be a blatant fraud scheme that locks users from their accounts after making deposits.
Green Dot Bank is now facing fraud allegations from various customers who have been locked out of their account from several weeks to even months.
A Green Dot Bank customer who wishes to remain anonymous reached out to FrankNez to share their story.
“I found your info after reading your blog on the Green dot bank pending lawsuits.
I opened my account in June and received deposits in July through August totaling 2300+ dollars.
It’s October and I still haven’t received my money, I was even assigned a case number, gained access to the account after rigorous verification questioning only to be locked out of my account again and call disconnected because I couldn’t recall an old email on my account after they had been on the phone with me for close to an hour.
I’ve had no choice but to contact FDIC because I’m injured can’t work and I’m backed up in bills.”
Many customers are having difficulty receiving a direct response from the bank’s customer service department, with many claiming to have been given the runaround.
“It been a month and I still haven’t been able to get my money from Walmart green dot. I have asked for a replacement card 4 times and haven’t got a card yet. My rent is due for last month and this month. I think they’re trying to keep my money,” says Marzell Land, another Green Dot Bank victim.
Customers affected by Green Dot Bank fraud should report to the FDIC and Better Business Bureau.
Scammers have lent out ‘support’ emails on forums meant to trick users into contacting the bank’s support team — these are fake.
Also Read: The US Treasury Direct is Now Freezing Customer Accounts
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Your article sheds light on the concerning rise in bank closures in Texas, notably PNC Bank’s decision and its potential impact on communities. The Green Dot Bank situation adds another layer to the challenges consumers face. Thanks for the concise yet insightful reporting.
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