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.