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Don't be Surprised to See a Bank of America Branch Shut Down Near You

If a Bank of America branch just shuts down near you, don’t be surprised. The 2nd Quarter 2015 financial earnings report by the top 4 banks in the US have brought to light some interesting results on number of branches and mobile banking usage. In the 4th quarter of 2014, Brian Moynihan, CEO of Bank of America had said, 9% of all checks deposited by customers in the fourth quarter came from snapping pictures on smartphones or tablet computers. This figure didn’t even exist in 2012. This implies the shift to digital banking initiated by Bank of America and its customers. Over the past 3 years, Bank of America has been cutting down the number of branches. In 2013, t ...

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