New York Now Gets Hit By Massive Bank Closures

November 25, 2023

New York now gets hit by massive bank closures as several more branches are scheduled to close per the Office of the Comptroller of the Currency (OCC).

New data from the OCC has now been released advising of upcoming bank closures in New York.

This week, a total of eight additional bank branches are scheduled to be closing in New York.

Below is the most updated list of bank branches closing in New York soon:

JP Morgan. 500 Joseph C Wilson Boulevard, CMC 271046 Rochester
Bank of America. 72 Second Ave, New York
Citizens Bank. 2345 Buffalo Rd, Rochester
Citizens Bank. 4250 McKinley Parkway, Hamburg
Citizens Bank. 301 Meadow Drive, N. Tonawanda
Citizens Bank. 5150 North St, Canandaigua
Citizens Bank. 3865 Union Rd, Cheektowaga
Citizens Bank. 4777 Transit Rd, Depew

This massive trend of bank closures continues in New York and across the entire United States.

Between 2017 and 2021, 9% of all branches — almost 7,000 locations— shut their doors, and New York had the third most closures of any state with California leading the way.

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.”

A poll by the DailyMail revealed that 51% of consumers said they were very or somewhat concerned about the declining number of bank branches.

And 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.

Also Read: A US Bank is Now Denying Customers Access to Money

Other Banking News Today

A US bank is now stealing customers money in what appears to be a blatant fraud scheme that locks users from their accounts after making deposits.

Green Dot Bank is now facing fraud allegations from various customers who have been locked out of their account from several weeks to even months.

A Green Dot Bank customer who wishes to remain anonymous reached out to FrankNez to share their story.

“I found your info after reading your blog on the Green dot bank pending lawsuits.

I opened my account in June and received deposits in July through August totaling 2300+ dollars.

It’s October and I still haven’t received my money, I was even assigned a case number, gained access to the account after rigorous verification questioning only to be locked out of my account again and call disconnected because I couldn’t recall an old email on my account after they had been on the phone with me for close to an hour.

I’ve had no choice but to contact FDIC because I’m injured can’t work and I’m backed up in bills.”

Many customers are having difficulty receiving a direct response from the bank’s customer service department, with many claiming to have been given the runaround.

“It been a month and I still haven’t been able to get my money from Walmart green dot. I have asked for a replacement card 4 times and haven’t got a card yet. My rent is due for last month and this month. I think they’re trying to keep my money,” says Marzell Land, another Green Dot Bank victim.

Customers affected by Green Dot Bank fraud should report to the FDIC and Better Business Bureau.

Scammers have lent out ‘support’ emails on forums meant to trick users into contacting the bank’s support team — these are fake.

Also Read: The US Treasury Direct is Now Freezing Customer Accounts

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