Category: Wells Fargo (Page 1 of 2)

A New Wave of Bank Closures is Hitting California

Market News Today - A New Wave of Bank Closures is Hitting California.
Market News Today – A New Wave of Bank Closures is Hitting California.

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.

Related: A US Bank is Now Freezing Some Retiree Accounts

California Bank Branches closed in August

Market News Today - A New Wave of Bank Closures is Hitting California.
Market News Today – A New Wave of Bank Closures is Hitting California.

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

Market News Today - A New Wave of Bank Closures is Hitting California.
Market News Today – A New Wave of Bank Closures is Hitting California.

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

For more banking news and updates, opt-in for push notifications, follow me on social media below, or join the newsletter.

Market News Published Daily 📰

Market News Today - A New Wave of Bank Closures is Hitting California.
Market News Today – A New Wave of Bank Closures is Hitting California.

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.

You can also follow me on TwitterInstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Become a Sponsor for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


More Banks Are Now Closing Across America This Year

Market News Daily - More Banks Are Now Closing Across America This Year
Market News Daily – More Banks Are Now Closing Across America This Year

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

Market News Daily - More Banks Are Now Closing Across America This Year
Market News Daily – More Banks Are Now Closing Across America This Year

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

For more banking news and updates, opt in for push notifications so you don’t miss the latest stories!

Market News Published Daily 📰

Market News Today - More Banks Are Now Closing Across America This Year
Market News Today – More Banks Are Now Closing Across America This Year

Join the newsletter ⬅️ to receive daily stock market news, business news and updates straight to your inbox; more than 10,000 readers have joined!

THANK YOU to all of our blog sponsors, this year we’ve been able to increase our email sends and signup slots as well as introduce push notifications.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Become a Sponsor for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


Wells Fargo to Now Pay $35 Million for Overcharging Customers

Market News Daily - Wells Fargo to Now Pay $35 Million for Overcharging Customers.
Market News Daily – Wells Fargo to Now Pay $35 Million for Overcharging Customers.

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

Market News Daily - Wells Fargo to Now Pay $35 Million for Overcharging Customers.
Market News Daily – Wells Fargo to Now Pay $35 Million for Overcharging Customers.

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

Market News Published Daily 📰

Market News Today - Wells Fargo to Now Pay $35 Million for Overcharging Customers.
Market News Today – Wells Fargo to Now Pay $35 Million for Overcharging Customers.

Join the newsletter ⬅️ to receive daily stock market news, business news and updates straight to your inbox; more than 10,000 readers have joined!

THANK YOU to all of our blog sponsors, this year we’ve been able to increase our email sends and signup slots as well as introduce push notifications.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Become a Sponsor for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


These Banks Are Now Closing in California This Year

Market News Daily - These Banks Are Now Closing in California This Year.
Market News Daily – These Banks Are Now Closing in California This Year.

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

Market News Daily - These Banks Are Now Closing in California This Year.
Market News Daily – These Banks Are Now Closing in California This Year.

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

Market News Daily - These Banks Are Now Closing in California This Year.
Market News Daily – These Banks Are Now Closing in California This Year.

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

For more banking news and updates, join the newsletter below or feel free to browse the site using the search bar located in the menu.

Bank news and updates | Banking news today.

Market News Published Daily 📰

Market News Today - These Banks Are Now Closing in California This Year.
Market News Today – These Banks Are Now Closing in California This Year.

Join the newsletter ⬅️ to receive daily stock market news, business news and updates straight to your inbox; more than 10,000 readers have joined!

THANK YOU to all of our blog sponsors, this year we’ve been able to increase our email sends and signup slots as well as introduce push notifications.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Become a Sponsor for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


« Older posts

© 2023 Franknez.com

Theme by Anders NorenUp ↑