Category: Wells Fargo (Page 1 of 2)

A New Wave of Bank Closures is Hitting California

September 4, 2023 / Frank Nez

A new wave of bank closures is hitting California as early as this month with many more scheduled through November now.

In August, I reported a number of bank closures hitting California up to October.

However, today’s article will highlight additional banks closing in California in September, October, and November.

This trend has only grown more in recent months and years as online banking surges in popularity.

Between Citibank, Wells Fargo, JPMorgan, and Bank of America, many banks have begun to close nationwide, but especially in California.

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.

Here is the latest report on banks closing in California this year.

🚨 BREAKING: A New Wave of Bank Closures is Hitting California https://t.co/gCan6W2ged #MarketNews
— Frank Nez 🇺🇸 (@FNez_Blogger) September 4, 2023

California Bank Branches closed in August

The following list of bank branches have now closed in California during the month of August.

Wells Fargo. 625 South Lone Hill Ave, Glendora
Wells Fargo. 1735 Ramsey St, Banning
Wells Fargo. 1596 Moorpark Rd, Thousand Oaks
Bank of California. 530 Palisades Dr, Pacific Palisades
JP Morgan. 3250 Pico Blvd, Santa Monica
JP Morgan. 10838 Long Beach Blvd Lynnwood
Bank of America. 2701 Harbor Blvd, Costa Mesa
Wells Fargo. 16055 Foothill Blvd, Fontana
Wells Fargo. 3211-1 Business Park Drive, Vista
JP Morgan. 5180 Foothills Blvd, Roseville
JP Morgan. 5142 Stevens Creek Blvd, San Jose
Zions. 525 University Ave, Palo Alto
Zions. 1900 Avenue of the Stars, Los Angeles
Bank of America. 336 South Twin Oaks Valley Rd, San Marcos
Flagstar Bank. 201 Mission Street, San Francisco
Bank of America. 5800 South Eastern Ave, Los Angeles

Also Read: Banks Are Now Closing Thousands of Accounts Daily

California Bank Branches closing in September

Below is a list of banks closing in California for the month of September.

Bank of America. 336 South Twin Oaks Valley Rd, San Marcos
Flagstar Bank. 201 Mission Street, San Francisco
Bank of America. 5800 South Eastern Ave, Los Angeles
Wells Fargo. 3550 Round Barn Blvd, Santa Rosa
Citibank. 10460 MT Gleason Ave, Tujunga
Citibank. 41969 Big Bear Blvd, Big Bear Lake
Citibank. 1995 41st Ave, Capitola
JP Morgan. 2121 Olympic Parkway, Chula Vista
Wells Fargo. 301 S. Pacific Coast Hwy, Redondo Beach
Bank of America. 1818 South Euclid St, Anaheim

Also Read: The US Treasury Direct is Now Freezing Customer Accounts

California Bank Branches closing in October

Below is a list of banks closing in California for the month of October.

Wells Fargo. 1565 East Highland, San Bernardino
JP Morgan. 1 Hacker Way, Menlo Park
Wells Fargo. 1071 El Camino Real, Redwood City
Wells Fargo. 42420 Washington Ave, Bermuda Dunes
Bank of America. 2925 Scott Blvrd, Santa Clara
Bank of America. 200 Cochrane Plaza, Morgan Hill
Bank of America. 1275 Fell St, San Francisco
Bank of America. 3491 McKee Rd, San Jose
Bank of America. 1400 Moraga Way, Moraga
Bank of America. 2049 Century Park East, Los Angeles
Wells Fargo. 303 N. El Dorado St, Stockton
City NB. 50 Freemont St, San Francisco
City NB. 800 Silverado St, La Jolla
City NB. 1800 Century Park East, Los Angeles
JP Morgan. 150 W. Foothill Blvd, Azusa
City NB. 1100 FLlynn Rd, Camarillo
JP Morgan. 23220 Hawthorne Blvd, Torrance
Wells Fargo. 116 Sunset Dr, San Ramon
Wells Fargo. 103 Eeast Stetson Ave, Hemet
Wells Fargo. 118 E. Carillo St, Santa Barbara

Also Read: Chase Customers Now Unable to Access Money Through ATMs

California Bank Branches closing in November

The following banks are closing in California for the month of November.

Wells Fargo. 8405 North Fresno St, Suite 300, Fresno
Bank of America. 2708 Ming Ave, Bakersfield
Bank of America. 1440 Truxton Ave, Bakersfield
JP Morgan. 14111 Riverside Dr, Sherman Oaks
JP Morgan. 707 Broadway Ste 100, San Diego
JP Morgan. 1720 Fulton St, San Francisco
JP Morgan. 12555 Valley View St, Garden Gr
US Bank. 4947 Third St, San Francisco
Zion Bank. 700 West Camino El Real, Mountain View
Bank of America. 2134 Montebello Town Center, Montebello
Bank of America. 800 Irving St, San Francisco
Bank of America. 39168 Winchester Rd, Murrieta

Also Read: Bank of America is Freezing Accounts in New Scandal

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More Banks Are Now Closing Across America This Year

August 31, 2023 / Frank Nez

More banks are now closing across America this year as the latest shutdowns hit Washington state, Pennsylvania, California, and others.

As previously reported, 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.

This trend of bank closures has grown over the past years with no signs of slowing down.

“Major banks continue to push their customers online as they close the number of physical branches nationwide,” says Ash Jurberg.

Washington State saw a net loss of 68 banks in 2021, and one report states, “If the trend of current bank branch closings continues, there may be no bank branches left in 10 years.”

“Crime has also been to blame for some bank closures; Seattle Credit Union closed two branches earlier this year due to escalating crime.”

This week, there has been notification that four more bank branches in Washington State will close this year.

JP Morgan. 6916 19th St W University Place
JP Morgan. 5464 Sand Point Way NE, Seattle
Bank of America. 11060 NE 6th Street, Bellevue
Wells Fargo. 6615 132nd Ave NE, Kirkland

These are just the latest banks closing in Washington State.

Below is a list of branches that closed this summer and are to close in the months to come.

Banks Closing in America | Washington Branch Closures

These are the branches in Washington that closed this summer or are due to close in the coming months.

Umpqua Bank, 3123 56th St, Gig Harbor
Bank of America. 500 Olive Way, Seattle
Wells Fargo. 1527 Highlands Dr, NE Issaquah
Bank of America. 20708 Bothell Everett Highway, Bothell
Wells Fargo. 14500 Greenwood Ave, Seattle
US Bank. 301 West Nickerson St, Seattle
US Bank. 5616 176th Street, East Puyallup
Bank of America. 17803 108TH Ave, SE RentonI
JP Morgan. 600 Pine St, Seattle
JP Morgan. 12903 NE Hwy 99 Vancouver

Also Read: These Big Banks Are Now Closing in New York This Year

Banks Closing in America | Pennsylvania Branch Closures

This is the current list of bank closures happening in Pennsylvania over the next three months.

Citizens Bank. 2748 Route 611 Tannersville
JP Morgan. SWC of W Trenton Ave and Plaza Blvd, Morrisville
Wells Fargo. 210 West Main Street, Lansdale
BNY Mellon. 500 Grant St, Pittsburgh
Santander Bank. 4452 Oakhurst Blvd, Harrisburg
Santander Bank. 313 West Cypress St, Kennett Square
Citizens Bank. 1919 Easton Rd, Willow Square Citibank. 1995 41st Ave, Capitola
Citizens Bank. 983 Wyoming Ave, Forty Fort
Woodforest NB. 2351 Century Dr. West Miflin
PNC Bank. 2430 East Market St, York
Wells Fargo. 702 N. 7th St, Allentown
Wells Fargo. 1 S. Church St, Quarryville
First NB of Pennsylvania. 2550 Brownsville Rd, Library
Wells Fargo. 1886 Bethlehem Pike, Flourtown
Santander. 1513 Bethlehem Pike, Hatfield
Santander. 9200 Roosevelt Blvd, Philadelphia
Wells Fargo. 1840 Airport Rd, Allentown
Wells Fargo. 600 Penn St, 2nd Floor, Reading
Wells Fargo. 555 E Lancaster Ave, Suite 400, Radnor
Citizens Bank. 9805 McKnight Rd, Pittsburgh
Citizens Bank. 495 Lincoln Ave, Bellevue
PNC Bank. 1 E Main St, Strasburg

New additions to the bank closure list in Pennsylvania:

Citizens Bank. 9805 McKnight Rd, Pittsburgh
Citizens Bank. 495 Lincoln Ave, Bellevue
PNC Bank. 1 E Main St, Strasburg

Also Read: US Bank is Now Preventing Customers From Withdrawing Money

New California Bank Branches closing in November

For a list of more branches closing in California this year, read the story below.

Wells Fargo. 8405 North Fresno St, Suite 300, Fresno
Bank of America. 2708 Ming Ave, Bakersfield
Bank of America. 1440 Truxton Ave, Bakersfield
JP Morgan. 14111 Riverside Dr, Sherman Oaks
JP Morgan. 707 Broadway Ste 100, San Diego
JP Morgan. 1720 Fulton St, San Francisco
JP Morgan. 12555 Valley View St, Garden Gr
US Bank. 4947 Third St, San Francisco
Zion Bank. 700 West Camino El Real, Mountain View

Also Read: These Banks Are Now Closing in California This Year

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Wells Fargo to Now Pay $35 Million for Overcharging Customers

August 28, 2023 / Frank Nez

Wells Fargo (NYSE:WFC) will now pay $35 Million for overcharging millions of dollars to customers for excessive fees in investment advice.

The Securities and Exchange Commission (SEC) claims that Wells Fargo collected an additional $26.8 million in advisory fees after overcharging more than 10,900 customers.

The SEC says the overbilling took place when certain financial advisers from Wells Fargo along with the firms acquired by the lender agreed to reduce the standard advisory fees for some of the banking giant’s customers.

Although the agreement was put into writing at the time the customers’ accounts were opened, Wells Fargo failed to make the changes in its billing systems, reports DH.

“The SEC also claims that the banking giant did not establish measures or policies that could have prevented the overbilling.

According to the SEC, Wells Fargo overcharged some customers who opened their accounts before 2014 through December 2022.”

Gurbir S. Grewal, Director of the SEC’s Enforcement Division made the following statement:

“For years, Wells Fargo and its predecessor firms negotiated reduced advisory fees with thousands of clients, but failed to honor them, overcharging those clients millions of dollars as a result. Today’s enforcement action underscores the need for firms growing their businesses through acquisition to ensure that their growth does not come at the expense of client protection…

Investment advisers must adopt and implement policies and procedures to ensure that they honor their agreements with all of their clients, including legacy clients of predecessor firms.”

Wells Fargo has agreed to pay a $35 million civil penalty without admitting or denying the charges.

The bank also paid $40 million, including interest, to reimburse customers who paid the additional advisory fees.

Also Read: Wells Fargo Banks to Quickly Close Down This Year

Other Wells Fargo News Today

Wells Fargo froze new deposits in what seems to be one of its most painful scandals, affecting customers nationwide.

For the second time this year, Wells Fargo acknowledged that deposits were not showing up in customers’ accounts.

In an emailed statement Friday morning, a Wells Fargo representative said the issue was affecting a “limited number of customers,” and that “the vast majority” of instances had been resolved before noon, while the “few remaining” would be resolved soon.

Jeani Cortez, a single, disabled, self-employed accountant and Alaska resident, says she was supposed to have paid her rent, gas, electric and internet payments for the month by now with funds she deposited Wednesday.

She said she was told Friday by a Wells Fargo representative that she would not be able to access her deposit for another three to five business days. She’d earlier been told that Wells Fargo could send her a letter to give to her creditors; that too has not arrived.

“There is simply not enough funds (without that deposit) to cover them all,” she wrote in an email, adding: “I simply cannot live without my funds now.”

For Brent Morrison, a Texas resident and father of two, the Thursday outage was doubly painful: He was laid off less than two weeks ago.

“That money was a little bit important to me yesterday,” Morrison said in a phone interview Friday.

While the funds — approximately $2,000 — ultimately did appear in his account, Morrison said he’d also been affected by the March outage, so he is now looking to move his money to a local bank, he said.

“They lost a customer. I just have no choice,” Morrison said. “It just doesn’t make sense to continue with them. The words ‘banking’ and ‘confidence’ shouldn’t end in a question mark.”

Also Read: Banks Are Now Closing Thousands of Accounts Daily

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These Banks Are Now Closing in California This Year

August 23, 2023 / Frank Nez

Wondering which banks are closing in California? This trend has only grown more in recent months and years as online banking surges in popularity.

Between Citibank, Wells Fargo, JPMorgan, and Bank of America, many banks have begun to close nationwide, but especially in California.

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.

In this article, I’m going to break down the name of the bank as well as the locations of banks closing in California each month.

Let’s get started!

California Bank Branches closed in June

Below is a list of banks that closed down this year in California for the month of June.

Wells Fargo. 101 West Fourth St, Santa Ana
Wells Fargo. 5007 Foothills, Blvd, Roseville
Wells Fargo. 17405 Crenshaw Blvd, Suite A, Torrance
Wells Fargo. 790 West Shaw Ave, Fresno
JP Morgan. 350 Esplanade Dr, Oxnard
Bank of America. 3250 Mission St, San Francisco
JP Morgan. 11766 Wilshire Blvd, Ste 100, Los Angeles
JP Morgan. 102 Robles Way, Vallejo
JP Morgan. 980 N Western Ave, Ste A, San Pedro
PNC Bank. 200 N Church St, Lodi
Wells Fargo. 30745 Pacific Coast Hwy, Malibu
Wells Fargo. 110 Harding Blvd, Roseville
Wells Fargo. 1111 Washington St, Santa Clara
Wells Fargo. 18529 Yorba Linda Blvd, Yorba Linda
Wells Fargo. 3250 Glendale Blvd, Los Angeles

Also Read: A US Bank is Now Denying Access to Funds and Freezing Accounts in New Scandal

California Bank Branches closing in July

Below is a list of banks that have closed in California this year for the month of July.

JP Morgan. 3492 Mt Diablo Blvd, Lafayette
Bank of America. 3045 Wilshire Blvd, Los Angeles
Wells Fargo. 715 Bridgeway, Sausalito
Wells Fargo. 10211 Avalon Blvd, Los Angeles
Wells Fargo. 535 N. Brand Blvd, Glendale
Wells Fargo. 800 E Alisal St, Salinas
Bank of America. 3650 Grand Ave, Chino Hills
JP Morgan. 18601 Devonshire St, Northridge

California Bank Branches closing in August

Which banks are closing in California this August? Below is a list of banks scheduled to close this month.

Wells Fargo. 625 South Lone Hill Ave, Glendora
Wells Fargo. 1735 Ramsey St, Banning
Wells Fargo. 1596 Moorpark Rd, Thousand Oaks
Bank of California. 530 Palisades Dr, Pacific Palisades
JP Morgan. 3250 Pico Blvd, Santa Monica
JP Morgan. 10838 Long Beach Blvd Lynnwood
Bank of America. 2701 Harbor Blvd, Costa Mesa
Wells Fargo. 16055 Foothill Blvd, Fontana
Wells Fargo. 3211-1 Business Park Drive, Vista
JP Morgan. 5180 Foothills Blvd, Roseville
JP Morgan. 5142 Stevens Creek Blvd, San Jose
Zions. 525 University Ave, Palo Alto
Zions. 1900 Avenue of the Stars, Los Angeles
Bank of America. 336 South Twin Oaks Valley Rd, San Marcos
Flagstar Bank. 201 Mission Street, San Francisco
Bank of America. 5800 South Eastern Ave, Los Angeles

Also Read: Banks Are Now Closing Thousands of Accounts Daily

California Bank Branches closing in September

Which banks are closing in California for the month of September? Below is a list of these banks and branch locations.

Bank of America. 336 South Twin Oaks Valley Rd, San Marcos
Flagstar Bank. 201 Mission Street, San Francisco
Bank of America. 5800 South Eastern Ave, Los Angeles
Wells Fargo. 3550 Round Barn Blvd, Santa Rosa
Citibank. 10460 MT Gleason Ave, Tujunga
Citibank. 41969 Big Bear Blvd, Big Bear Lake
Citibank. 1995 41st Ave, Capitola
JP Morgan. 2121 Olympic Parkway, Chula Vista
Wells Fargo. 301 S. Pacific Coast Hwy, Redondo Beach
Bank of America. 1818 South Euclid St, Anaheim

Credit to Ash Jurberg for curating this list.

These Bank of America Branches Will Close Between August and October in California

The following Bank of America branches will also close between August and October in California.

2701 Harbor Blvd, Costa Mesa
336 South Twin Oaks Valley Rd, San Marcos
5800 South Eastern Ave, Los Angeles
336 South Twin Oaks Valley Rd, San Marcos
5800 South Eastern Ave, Los Angeles
1818 South Euclid St, Anaheim
200 Cochrane Plaza, Morgan Hill
2925 Scott Blvd, Santa Clara
3491 McKee Rd, San Jose
1400 Moraga Way, Moraga
2049 Century Park East, Los Angeles
1275 Fell St, San Francisco

Also Read: New Study Shows Nearly 190 Banks on Verge of Collapsing

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Category: Wells Fargo (Page 1 of 2)

A New Wave of Bank Closures is Hitting California

California Bank Branches closed in August

California Bank Branches closing in September

California Bank Branches closing in October

California Bank Branches closing in November

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More Banks Are Now Closing Across America This Year

Banks Closing in America | Washington Branch Closures

Banks Closing in America | Pennsylvania Branch Closures

New California Bank Branches closing in November

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Wells Fargo to Now Pay $35 Million for Overcharging Customers

Other Wells Fargo News Today

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These Banks Are Now Closing in California This Year

California Bank Branches closed in June

California Bank Branches closing in July

California Bank Branches closing in August

California Bank Branches closing in September

These Bank of America Branches Will Close Between August and October in California

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