Les Jones

Too Much of Everything: Bank Branches

Thursday, August 6th, 2009 | Economics |

Wall Street Journal - BofA Plans to Cut 10% of Branches:

Bank of America Corp. Chief Executive Kenneth Lewis told investors last week he is planning to shrink the company’s 6,100-branch network by about 10%, a pullback from the two-decade expansion that took the bank from coast to coast.

Banks were on a wild building spree the last two decades, opening branches everywhere to attract customers seeking loans. Now they’re pulling back. I just found out that our bank (First Tennessee) has closed the branch nearest to our house.

Previously - Too much of everything: Restaurants and Post Offices

Tags: too much of everything

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