8 new Bank of America branches are now closing in California according to the latest data from the Office of the Comptroller of the Currency (OCC) and FDIC.
“According to OCC.gov, the federal Office of the Comptroller of the Currency, multiple Bank of America branches have been announced as permanently closing from October through year’s end.
The ongoing popularity of online banking has been reported as the primary cause of the current spate of state closures,” reports Joel Eisenberg.
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.
The-Sun says Bank of America customers in California will have fewer options as eight branches are shutting down next month.
A total of 20 bank branches, including Wells Fargo, Bank of America, JPMorgan, and Citibank are also closing in California in October.
While the exact closure date has not been confirmed, one branch in Washington has closed down on September 12.
The following California locations set to close next month are:
- 2925 Scott Blvd, Santa Clara
- 200 Cochrane Plaza
- Morgan Hill
- 1275 Fell St, San Francisco
- 3491 McKee Road, San Jose
- 1400 Moraga Way, Moraga
- 2049 Century Park East, Los Angeles
Aron Levine, president of Preferred Banking for the company, told the San Francisco Business Times that branches play a critical role in its business.
“Our own research tells us that students say, ‘I may never go to a financial center, but I will choose a bank knowing they have one near,'” Mr. Levine said.
Related: Bank of America is Freezing Accounts in New Scandal
Other Bank News Today
More US banks are now freezing and closing accounts according to several new reports from Chase customers, Credit Karma (MVB Bank), and others.
Last week I reported Eric Begley said his family of four are being affected by Credit Karma’s bank partner, MVB bank and are on the brink of being evicted.
His payroll has been frozen and the family is working with local state reps to look into the problem.
“Our family with 2 children are being evicted Monday so please everyone pray for our family that this gets resolved for us asap.
C.K. is purposely holding up these simple routing numbers & now my family’s lives are suffering.”
Keith Sowder says his family is experiencing the same problems with Chase, Credit Karma’s bank, and Cash App.
“This is happening to my Wife and I even as we speak…with THREE different Financial institutions. Cash app, Chase and Credit Karma.
Cash app froze her acct. in Jan. 2022, claiming there had been a security breech. They sent her a total of EIGHT cards…none of which worked they “claimed” because she didn’t receive and attempt to activate them in time.
Her money shows up as still there…she just can’t access it. Chase claims she had several fraudulent purchases she disputed, close her acct. and was going to send her her $1,700 in that account…that was in JUNE!
Still haven’t seen it ! Finally, she opened an account with Credit Karma…same deal, they froze that account for NO reason!
If anyone has any ideas on who we need to contact to get her access to her money…and to make these BASTARDS PAY….please let me know ! We have contacted Attorneys and State Reps…with absolutely NOTHING being done! Thanks!”
Also Read: The US Treasury Direct is Now Freezing Customer Accounts
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