(Natural News)—JPMorgan Chase, America’s largest bank, will have shut down 159 branches across the country by the end of 2023.
For Chase Bank’s customers, these closures represent serious inconveniences, if not outright terrible disruptions to their lives. Services previously offered by human bank tellers and other banking professionals who used to staff these now-shuttered branches have now been replaced by automated customer service helplines. (Related: Largest banks in America have collectively cut 20K JOBS so far this year.)
Twenty states have or will be impacted by the Chase Bank branch closures. Some, like Wisconsin and Wyoming, will only have one branch closed in each state. Others have more than a dozen branches being shut down by the end of the year.
California is the hardest hit of all, with the state recording a total of 46 branches that will have closed by the end of the year.
Kentucky, Louisiana, Massachusetts, Nevada and Utah will see two branches shut down in each state by the end of the year. They are followed by Connecticut and Michigan with three branches each; Arizona and Florida with five branches each; and Colorado, Indiana, New Jersey, Ohio and Washington with six branches each.
Along with California, three other states will see double-digit number of Chase Bank branches shut down by the end of the year: Texas, New York and Illinois, with 13, 17 and 24 branches, respectively.
Bank of America, Wells Fargo and Citi Bank also shutting down hundreds of branches
The latest data from the Federal Deposit Insurance Corporation notes that approximately 8,000 bank branches were in operation in the U.S. in 2000. By 2022, this figure had been halved. Other Big Banks in America are also reporting dozens of bank closures, including the Bank of America, Wells Fargo and Citibank.
According to data provided by the Bank of America to the Office of the Comptroller of Currency, the bank will be shutting down 138 locations. To date, at least 95 of those branches have already been closed. Fifteen more will shutter by the end of the year, and the remainder will stay open up to 2024.
Wells Fargo has closed 61 branches so far – a number expected to increase to 65 before December. A spokesperson for the company claims many of its customers are already taking advantage of “our wide range of digital capabilities for many of their banking needs.” As a result, fewer and fewer transactions are being carried out in person in branches.
“We continually evaluate our branch network in light of changing customer needs, increased usage of digital banking and market factors,” added the spokesperson.
Citigroup, the parent company of Citibank, claimed that its shuttering of branches not just in the U.S. but globally is part of a shift in the company’s strategy to focus on wealth management. The shuttering of Citibank branches is aimed at focusing on more affluent clients and generating higher returns through feel while simplifying operations and reducing complexity and capital requirements.
Citigroup’s wealth division handled $746 billion of wealth globally in 2022, significantly lower than Bank of America’s own wealth management division, Merrill Lynch, which had an asset size of more than $2.8 trillion in the same year.
Collapse.news has more stories about bank closures. Watch this special report from Next News Network reporting on the downgraded credit ratings of major U.S. banks.
This video is from the News Clips channel on Brighteon.com.
More related stories:
- Bank payment processing outages highlight risks of relying on electronic banking.
- 1.8M fraudulent transactions led banks to close accounts of innocent customers without warning or explanation.
- Banking system showing more signs of COLLAPSE as customers report widespread deposits.
- Why are online banking services suddenly being disrupted on a massive scale all over the United States?
- Big Banks LAYING OFF tens of thousands of workers, including over 20,000 employees in the U.S. alone.
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But will JPMorganChase, which formed a partnership with the Bank of China dating back to 1973, open up branches elsewhere???
When Manpower, then the largest temporary personnel agency, closed 1,000 offices across America in 2003, they then OPENED 900 offices in China!?!?
JPMorganChase, then not fully named in 2000, purchased the international banking concern, Flemings, based out of Hong Kong. The banking firm, the same Fleming family Ian Fleming, raconteur and author of 007, James Bond, was from!
The original Flemings founder built his fortune as an enterprising Brit who sold SANDBAGS to the armies of America during the CIVIL WAR, then funneled that money into banking!
Is America being SANDBAGGED???
The top banks, secretly owned by nobody knows who —- as a finance professor stated in 1973 —— I repeat 1973, 1973, 1973 — — nobody knows who owns the banks, a major secret the rubes never glean onto!!!
Their major sharehoders, of course, are BlackRock, Vanguard, State Street and Fidelity, who are the major shareholders in each other, thus forming a singular ultra–cross–shareholding financial construct, beyond the comprehension of the typical AmeriRube, but who are those shareholders through those investment firms — — NOBODY KNOWS!
The newly elected President Bill Clinton’s strange first action as president was to direct the SEC to drop their mandatory requirement for Wall Street investment firms noting who their PRIMARY INVESTORS (owners) were, thus hiding ownership?!?! Odd action for a guy who didn’t know squat about finance?!?!
Probably simply the logical precursor to the fullscale adoption of CBDC to fully control the masses, the peasant class of North America! This is supposition on my part as I have no special insider knowledge —— all I know for certain is that NONE OF THE PUPPETMEDIA ever bothered to report that Saule Omarova, the fave of the Federal Reserve and Peterson Institute, founded by David Rockefeller and Peter G. Peterson, the Rockefeller protégé (JPMorganChase is historically a Rockefeller bank), who was that rejected nominee to head the OCC, was a major evangelist for the CBDC and central banking control!
Odd no fake newsy would mention that?????
Citi Bank and Citigroup, strangely sold MONEY–BACK GUARANTEED CDOs, which were illegal under tax law deductions for “investments” as they did NOT fit the legal definition —— yet somehow the US Government bailed out Citigroup (largest recipient of those TARP bailout funds in America) so therefore supported those money–back guaranteed CDOs?!?!
Their head of Alternate Asset Management then was Jack Lew, later to be the Obama Treasury Secretary —- good golly Ms. Molly?!?!
Weird how all this random CUHRAP works???
Very recondite, little known fact: for decades there was always a Bush family member at Goldman Sachs; a Bush, or Walker or White name will appear on their employee rolls, and definitely a Bush family member!?
How very obscure –– of course, like Robert Mueller’s family fortune, the Bush family fortune originated from the Rockefeller family (via Frank Rockefeller, John D.’s younger sibling) who gave the Ohio Buckeye Ball Bearing Company to Samuel Bush for some unknown reason?!?! (Like Robert Mueller’s Truesdale ancestors were handed a Rockefeller railroad, but in their case we know that it was payment for dynamiting the refineries of competitors to the Rockefeller interests, then other Truesdale shysters defended the Truesdale dynamiters in court!)
During the JFK Administration at least 40 members of that administration were financially connected to the Rockefeller Brothers Fund (doubtful President Kennedy was aware of that)!? JPMorganChase is traditionally a Rockefeller bank, so these are pertinent facts!