Bankrate, January 12, 2024, Digital Banking Trends In 2024
Traditional banks — those that have a physical presence — are still the predominant financial institution where people keep their primary bank accounts. However, their reach is declining.
Between 2017 and 2021, 9 percent of all branch locations closed, a loss of around 7,500 branches, according to the nonprofit National Community Reinvestment Coalition (NCRC). A third of those closures were in low- to moderate-income or historically marginalized neighborhoods.
