Tuesday, July 28, 2009
BofA Branch Reductions Due to Online and Mobile Banking
"BoA to shutter branches. Bank of America (BAC) is planning to slash the company’s 6,100-branch network by 10%, reversing two decades of coast-to-coast expansion. Bank officials reportedly attribute the closings to changes in customer preferences, citing the shift away from traditional branches in favor of online and mobile banking. A timeline for the closures wasn’t specified." www.eminimaster.com (Linked to Wall Street Journal)
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