Don't Confuse Bank Branch Closures with Fewer Banking Services

摘要

Policymakers have recently voiced concerns over bank branch closures and the effect they could have on low-income at-risk communities. Banks serve a critical role providing the financial lifeblood for their communities. While banks have begun to shift branch strategies to face technological, economic and demographic changes, they continue to take this responsibility seriously. Despite concerns focused on low-income communities, the vast majority of branch closures have occurred in upper- and middle-income neighborhoods and urban areas. In fact, many banks, particularly community banks, are opening more branches on net than they are closing.