A friend sent me a list of bank closures yesterday. Lots of US Bank outlets, & PNC Bank among others. It doesn’t look good.
You mean branch closures, not bank closures. Branch closures have been going on for decades.
My economist brother-in-law taught banking to undergrads for six years while working on his thesis. He once remarked to me that the US is "vastly" overbanked. He said that consolidation wouldn't hurt anyone. European countries have a few dozen banks, and its enough for competition.
Also, I don't think that branch closures means much of anything economically, although it might be an inconvenience for customers who aren't comfortable depositing checks via their mobile app. Cash can be obtained via ATMs. Mortgage loans can be handled by specialty offices which are more sparsely located.
A friend sent me a list of bank closures yesterday. Lots of US Bank outlets, & PNC Bank among others.
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The current count is 220 ( and rising) by the majors, you cannot have bank runs with no buildings to visit. Time to “ cash up”, there is going to be a lot of deals and distressed sales coming our way.
Time to “ Prosper”, again….some of us saw the 08 meltdown coming, disregarding MSM’s “ all is well” garbage….”Go and buy that house, car, boat, gun, property.”….two years later it all sold for pennies on the dollar.