Forbes: 3 Major Banks Plan More Branch Closings As Thousands Shutter—In U.S. And U.K.—Amid Covid, Digital Growth

Forbes

, April 24, 2021, 3 Major Banks Plan More Branch Closings As Thousands Shutter—In U.S. And U.K.—Amid Covid, Digital Growth

The move toward expanded digital services, pressures arising from the pandemic and a desire to cut costs has led to thousands of bank branches to close on both sides of the Atlantic, a pattern that seems irreversible to many observers.

According to the National Community Reinvestment Coalition, a grassroots organization advocating for the underbanked, the number of U.S. bank branches dropped from 85,993 to 81,586, a 5.1% decline, between 2017 and 2020.