A US bank is now permanently closing more branches by mid-November according to a new report from The-Sun.
This trend has only grown throughout the year as online banking now forces traditional banks to pivot like never before.
“Six longstanding Associated Bank branches, including five in Wisconsin, are permanently closing November 17th.
The closures are reportedly due in large part to issues that are reportedly related to the ongoing popularity of online banking and are said to be financially strategic in nature,” reports Joel Eisenberg.
Associated Banc-Corp (Associated Bank) is a U.S. regional bank holding company providing retail banking, commercial banking, commercial real estate lending, private banking, and specialized financial services.
Most of the bank’s branches are located in Wisconsin, Illinois, and Minnesota.
According to an October 9th report from The-Sun.com, in addition to the five Wisconsin closures, an Illinois branch will also be closing that same day.
“Associated Bank, which has 202 branches, is shutting down six locations in Wisconsin and Illinois. The addresses affected are as follows:
- 300 North LaSalle Drive, Chicago, IL
- 2815 South Chicago Avenue, South Milwaukee, WI
- 5987 County Highway West, Manitowish Waters, WI
- 3847 South Howell Avenue, Milwaukee, WI
- 2001 South Webster Avenue in Allouez, WI
- 717 Main Street, Menomonie, WI
The shutdown dates are all set for November 17.“
The news comes after a report of Wisconsin layoffs surging this month according to the latest WARN data.
The state has currently laid off nearly 5,000 people this year with at least 94 companies filing WARN notices.
However, under the Worker Adjustment and Retraining Notification Act, an employer with more than 100 full-time workers must provide a 60-day notice before laying off 50 or more people at a single site.
Also Read: A New Wave of Massive Layoffs Now Hits Texas
Other Banking News Today
Customers are now reporting being unable to access money from a popular US bank.
Green Dot Bank has been facing fraud allegations from various customers who have been locked out of their account from weeks to months.
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 ask for a replacement card 4 time haven’t got a card yet my rent is do for last month and this month. I think there trying keep my money,” says Marzell Land.
Green Dot bank has been freezing multiple customer accounts resulting in missed bills or the usage of high interest credit cards to get by.
“Unable to access my funds from Green Dot and they have no answers and send me to a specialist that has me on hold for hours and then they hang up on me,” said Jordan, a Green Dot Bank customer on Friday.
Several retirees in the U.S. have been affected.
The bank, which has 33 million customers, initially said account balances and transactions were impacted by an issue with a payment processing partner.
Now, the bank says its systems are fully up and running – but customers say the problems persist.
Also Read: The US Treasury Direct is Now Freezing Customer Accounts
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