America’s Sixth-Largest Bank Announces Closure of 19 Additional Branches Nationwide After Closing 203 Branches in 2023 | The Gateway Pundit

Main US banks are persevering with their plans to close down branches nationwide, leading to a rising variety of People being left with out entry to important monetary companies.

America’s sixth-largest financial institution, PNC, has confirmed the closure of 19 extra branches nationwide, following a staggering 203 department closures earlier this yr. This resolution, aligning with the financial institution’s shift in direction of digital banking, is elevating issues amongst prospects preferring conventional banking strategies.

Scheduled for February 2024, the closures will primarily affect ​Pennsylvania, the place the vast majority of branches marked for closure are situated. Nevertheless, a number of branches in different states, together with ​Illinois, ​Texas, Alabama, New Jersey, Ohio, Florida, and Indiana, will even be shutting their doorways, leaving prospects in these areas with restricted entry to in-person banking companies, The Solar reported.

This resolution follows the shutdown of a department in Strasburg, Pennsylvania, on November 17, the place banking companies have been restricted to an ATM throughout the road, and the financial institution’s belongings have been transferred to a close-by location.

PNC Financial institution’s resolution to shutter these branches is indicative of a bigger development within the banking trade, the place monetary establishments are more and more prioritizing digital banking platforms over brick-and-mortar areas.

Whereas PNC cites the rise of on-line banking and altering buyer behaviors because the driving forces behind these closures, critics argue that this digital shift compromises each the safety of buyer knowledge and the federal government’s skill to control banking actions successfully. Digital platforms, they level out, are vulnerable to cyber threats, knowledge breaches, and hacking incidents that may jeopardize buyer privateness and monetary safety.

PNC Financial institution joins various different banks in downsizing their bodily presence. Beneath is an inventory of financial institution branches which have both not too long ago ceased operations or are on the schedule for imminent closure per Newsbreak.

• Wells Fargo. 1155 Union Circle, 2ND FL RM 222, Denton.
• Wells Fargo. 700 Jackson, Richmond
• Wells Fargo. 14999 Preston Rd, Constructing F, Dallas
• Verabank. 1100 Williams Dr, Georgetown
• Amerant Financial institution. 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
• Financial institution of America. 9660 Hillcroft St, Houston
• Wells Fargo. 1420 West Mockingbird Lane, Dallas
• JP Morgan Chase. 16802 El Camino Actual, 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 Actual, Houston
• JP Morgan. 1200 Clear Lake Metropolis Blvd, Houston
• JP Morgan. 3103 FM 528 Friendswood
• Dwelling Financial institution. 12941 Gulf Freeway, Houston
• Dwelling Financial institution. 251 West Medical Heart, Webster
• Financial institution of America. 7900 Shoal Creek Blvd, Austin
• First NB. 5671 Treaschwig Rd, Spring
• First NB. 5671 Treaschwig Rd, Spring
• Financial institution of America. 7900 Shoal Creek Blvd, Austin

In October, The Gateway Pundit beforehand reported that Financial institution of America led the best way by closing 21 branches in simply the primary week of October, in line with a bulletin printed by the Workplace of the Comptroller of the Foreign money (OCC).

Wells Fargo was not far behind with 15 closures, whereas US Financial institution and Chase reported closing 9 and three branches, respectively, in line with the Daily Mail.

“In complete, some 54 areas had both closed or had been scheduled to shut between October 1 and October 7. Of the general closures, three had been in Louisville in Kentucky. Eight of the 21 Financial institution of America closures had been in California,” the outlet reported.

In 2022, 3,000 financial institution branches have closed down nationwide, in line with the Kiplinger Letter.