ABC 7: Data shows poor communities of color in SoCal impacted most by bank closures

ABC 7, September 22, 2021, Data Shows Poor Communities of Color in SoCal Impacted Most by Bank Closures

Low-income, high-minority areas of L.A. County saw a 12% drop in banks between 2017 and 2020. It’s a scene happening across the country. According to a report by the National Community Reinvestment Coalition, over 13,000 bank branches closed in the U.S. between 2008 and 2020, representing 14% of all branches.