Massive bank branches will now close in Florida according to the latest data from the Office of the Comptroller of the Currency (OCC).
Between 2017 and 2021, 9% of all branches — almost 7,000 locations— shut their doors.
Florida had the fourth most closures of any state as banks continue to push customers to digital banking, according to CNBC.
“Clients use digital banking more than ever for their everyday financial needs, and come into financial centers for more complex transactions or discussions about their finances,” said Bank of America in a statement.
“So we have been adjusting our retail network where centers are located in close proximity to one another, or where client traffic has diminished significantly.”
In July, Wells Fargo laid off over 100 employees in Orlando’s consumer and small business banking division.
Despite the push to digital banking, many customers prefer to do their banking in a physical location.
There is a fear that closing so many branches can lead to ‘banking deserts’ and adversely impact lower income communities.
Below is a list of massive bank branches closing in Florida very soon:
- Bank of America. 8819 Hypoluxo Rd, Lake Worth (added to the list this week).
- Valley NB. 19495 Biscayne Blvd, Suite 500, Aventura (added to the list this week).
- Wells Fargo. 1600 Ridgewood Ave, Holly Hill
- Wells Fargo. 5849 Okeechobee Blvd, West Palm Beach
- Wells Fargo. 5355 Town Center Rd, Boca Raton
- Bank United. 1121 North Orange Ave, Winter Park
- US Bank. 515 North Flagler Dr, Suite 2100, Palm Beach
- Wells Fargo. 12233 North Florida, Tampa
- Wells Fargo. 219 Indian River, Ave, Titusville
- Wells Fargo. 2307 Del Prado Blvd, Cape Coral
- 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
- Trustco Bank. 1084 Lee Rd, Orlando
- Bank of America. 126 East Olympia Ave, Punta Gorda
- Wells Fargo. 199 North Ocean Blvd, Pompano (closed this week)
Also Read: Wells Fargo is Now Freezing Bank Accounts in New Scandal
Other Banking News Today
Bank of America is now closing accounts without warning according several customer reports.
Another Bank of America customer has claimed that her account has been closed without being warned, a growing trend seen within the bank giant.
The influencer said she received a notice about a credit warning before it completely disappeared.
In a TikTok video shared last month, she revealed that she had two checking accounts with Bank of America.
The bank user (@spirtuallyfree444) said she was transferring money between the two accounts ahead of paying bills.
However, when she logged onto her account, she claimed a notice told her she had been overcharged and was due to receive $29 in credit.
“I went through my transactions but I couldn’t see where they had overpaid me.
“I didn’t say anything. This is just an extra $29 that I have in my account,” she said.
Days later, she checked the account and noticed that it had been closed.
The mystified customer claimed a Bank of America staffer couldn’t explain why the account had been shut down.
There wasn’t a note in the Bank of America system regarding the account closure, the TikToker claimed.
She fumed: “How you all just close my account y’all [sic]. They just closed my account.”
She claimed she was glad that she didn’t have payroll going into the bank account.
The influencer raged: “They closed my f**king account.”
She claimed representatives at the banking chain said she could open another account – a response that left the TikToker perplexed.
“I found it very strange that they closed one of my accounts. So, now I’ve got to keep an eye on the other account,” she stated.
“I just took the money out of it so there’s nothing in there.”
Another TikToker, known only as Jessica (@wheresmydamnchapstick) also claimed her credit cards had been shut down without warning.
Also Read: A US Bank is Now Denying Customers Access to Money
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