Massive banks are now closing major branches in Texas according to fresh data from the Office of the Comptroller of the Currency (OCC).
This week, three more locations have been added to the ever-growing list of bank closures in Texas.
- Wells Fargo. 8903 West Military Dr, San Antonio
- First American Bank. 25700 I-45 North, Spring
- JP Morgan. 2902 North Beltline Rd, Irving
Why do massive bank branches continue to shutter nationwide?
The fast rise and popularity of online banking is causing traditional banks to pivot and adapt to customer needs.
However, experts fear that as this trend continues, communities will be left with what’s known as ‘bank deserts’.
CNBC reports that banking deserts are “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.”
Below is the most recent list of banks scheduled to close in Texas:
- Wells Fargo. 1155 Union Circle, 2ND FL RM 222, Denton.
- Wells Fargo. 700 Jackson, Richmond
- Wells Fargo. 14999 Preston Rd, Building F, Dallas
- Verabank. 1100 Williams Dr, Georgetown
- American Bank. 12145 FM 1960 West, Houston
- Wells Fargo. 3580 Frankford Rd, Dallas
- Wells Fargo. 1200 Flower Mound Rd, Flower Mound
- JP Morgan. 213 W Greens Rd, Houston
- Wells Fargo. 2824 Hillcroft St, Houston
- Bank of America. 9660 Hillcroft St, Houston
- Wells Fargo. 1420 West Mockingbird Lane, Dallas
- JP Morgan Chase. 16802 El Camino Real, Houston
- Capital One. 2301 E. Riverside Dr, Austin
- Capital One. 2910 S. Lakeline Blvd, Cedar Park
- Wells Fargo. 11152 S. Gessner Dr, Houston
- Woodforest NB. 80 Uvalde, Houston
- JP Morgan. 14114 Dallas Parkway, Dallas
- Wells Fargo. 1420 West Mockingbird Lane, Dallas
- JP Morgan Chase. 16802 El Camino Real, Houston
- JP Morgan. 1200 Clear Lake City Blvd, Houston
- JP Morgan. 3103 FM 528 Friendswood
- Home Bank. 12941 Gulf Freeway, Houston
- Home Bank. 251 West Medical Center, Webster
- Bank of America. 7900 Shoal Creek Blvd, Austin
- First NB. 5671 Treaschwig Rd, Spring
- Bank of America. 7900 Shoal Creek Blvd, Austin
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Also Read: A US Bank is Now Denying Customers Access to Money
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: The US Treasury Direct is Now Freezing Customer Accounts
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