Massive bank branches in California now unexpectedly close for 2024 according to fresh data from the Office of the Comptroller of the Currency (OCC).
“Nine additional major California bank branches are collectively scheduled to permanently shutter in 2024, as listed with the most recently updated Office of the Comptroller of the Currency (OCC) Bulletin (for the week ending November 11th),” reports Joel Eisenberg.
However, it should be noted 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.
So far, no specific dates of the branch closures have yet been announced for any of the banks listed below.
More California bank branches are expected to close following the growing trend and rise of online banking.
Further closures are expected to appear in the next OCC bulletin.
Below are the bank branches in California closing for 2024:
- Chase. 14111 Riverside Dr, Sherman Oaks.
- Chase. 707 Broadway, STE 100, San Diego.
- Chase. 1720 Fulton St, San Francisco.
- Chase. 12555 Valley View St, Garden Grove.
- US Bank. 1309 North Chester Ave, Bakersfield.
- Wells Fargo. 5377 West Centinela Ave, Los Angeles.
- Wells Fargo. 535 South Myrtle Ave, Monrovia.
- Wells Fargo. 1705 N First St, San Jose.
- Wells Fargo. 3550 Wilshire Blvd, Los Angeles.
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.
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.
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.
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