A massive bank is now closing branches in Tennessee soon according to fresh data from Office of the Comptroller of the Currency (OCC).
U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware.
It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States.
The bank will now be shuttering three branches in Tennessee soon.
This week, seven banks filed to close 42 branches, leaving more people with limited access to essential financial services, reports Ash Jurberg.
“Unfortunately, three of these branches are located in Tennessee.
While some people do their banking online, many still prefer to visit a branch to conduct their finances, so these closures will cause some concern to some customers.
In particular, bank closures have been hitting low-income and majority-minority communities.”
The following US Bank branches will be shutting their doors in Tennessee:
- US Bank. 1910 Decherd Blvd, Decherd
- US Bank. 7608 Mountain Grove Dr, Knoxville
- US Bank. 7350 Clinton Highway Powell
CNBC reports that “according to the National Community Reinvestment Coalition, one-third of the branches closed from 2017 to 2021 occurred in areas that were predominately lower-income and minority areas.”
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.
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.
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.
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