Massive bank branches in Florida now unexpectedly close for 2024 according to fresh data from the Office of the Comptroller of the Currency (OCC).
Three additional Florida-based Wells Fargo Bank branches are 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.
“It should be further 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.”
The following Florida-based Wells Fargo Bank branches have been added this week to the 2024 permanent closure list:
- 219 Indian River Avenue, Titusville
- 12233 North Florida, Tampa
- 2307 Del Prado Boulevard, Cape Coral
The following six bank branches are now scheduled to shutter in Florida in the coming weeks:
- Trustco Bank. 1084 Lee Rd, Orlando
- Bank of America. 126 East Olympia Ave, Punta Gorda
- Wells Fargo. 3131 West Hallandale Beach Blvd, Hallandale
- Wells Fargo. 10191 Cleary Blvd, Plantation
- Wells Fargo. 113 South Tennessee Ave, Lakeland
- Wells Fargo. 4901 Tamiami Trail, South Naples
Wells Fargo also announced that it is closing additional branches in California soon.
Between 2017 and 2021, nine percent of all branches — almost 7,000 locations— shut their doors.
Florida had the fourth most closures of any state.
CNBC reports that this trend of bank closures may lead to “banking deserts”, where communities are left 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.”
Other Banking News Today
These massive banks are now closing in Colorado according to fresh data from the Office of the Comptroller of the Currency (OCC).
This week alone, three big bank branches have closed in Colorado with two more scheduled to close soon.
- JP Morgan. 2040 South University Blvd, Denver (closed this week)
- JP Morgan. 11555 Meridian Market View, Falcon (closed this week)
- JP Morgan. 9611 W 58th Ave, Arvada (closed this week)
- US Bank. 1018 Constitution Rd, Pueblo (listed to close soon)
- First NB Bank of Omaha. 1520 East Mulberry St, Fort Collins (listed to close soon)
Below is a list of the bank branches that have recently closed in Colorado over the last few months:
- Wells Fargo. 34237 Highway 6, Edwards
- UMB Bank. 1400 Wewatta Street, Suite 103, Denver
- US Bank. 34353 Highway 6, Edwards
- JP Morgan. 17207 S Golden Rd, Golden
- Bank of America. 5077 E Colfax Ave, Aurora
- PNC Bank. 7375 Ralston Rd, Arvada
- First National Bank. 515 McCaslin Blvd, Louisville
- Key Bank. 3600 South Yosemite St, Denver
- Huntington NB. 8085 South Chester St, Centennial
- Wells Fargo. 359 Main St, Grand Junction.
Banks continue to close across the United States.
“Between 2017 and 2021, nine percent of all branches — almost 7,000 locations— shut their doors,” reports Ash Jurberg.
“The increase in bank closures means many people must travel further to get to their nearest bank, primarily impacting vulnerable and elderly customers.”
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.”
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