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Bank Closures on the Rise: Wells Fargo, TD Bank, Chase and Citibank Announce Branch Closures

Bank Closures on the Rise: Wells Fargo, TD Bank, Chase and Citibank Announce Branch Closures

Bank closures continue across the United States as Wells Fargo, TD Bank, Chase and Citibank announce branch closures

In the United States, the trend of bank closures is raising concerns among customers as more and more financial institutions announce the closure of their branches. Large corporations have been significantly affected by this wave of closures, with Wells Fargo, TD Bank, Chase and Citibank the latest to reveal their plans to close multiple locations.

According to the Office of the Comptroller of the Coin (OCC), TD Bank and Wells Fargo are among the most prolific in branch closures. TD Bank is expected to close at least 20 locations across the country, affecting branches in northeastern states such as New York, Vermont, Philadelphia, Maine and South Carolina.

Wells Fargo, on the other hand, is permanently closing eight branches in states such as Florida, California, Georgia, Nevada and North Carolina. Other major banks such as Bank of America, Citibank, Liberty Bank and Capital One are also joining the trend by closing branches in states such as California, New York and Michigan.

Even Chase has plans to close branches, although no details have been announced yet. This wave of closures is not new, as Bank of America previously announced the closure of 50 branches across the country starting in early 2024.

As bank closures remain a common issue in the United States, customers are urged to stay informed of any changes affecting their local branches. Stay tuned for more updates on this developing story.