Posted on 11/01/2023 7:09:19 AM PDT by ChicagoConservative27
Local bank branches are closing across San Francisco, as the city’s economic decline continues amid crime, homelessness, and a drug epidemic.
The San Francisco Chronicle reported Tuesday:
Bank branches are vanishing across the country, and San Francisco is having a record-testing year.
Twenty branches shuttered across the city through Oct. 28, according to data from the U.S. Office of the Comptroller of the Currency. The closures — from the central Richmond District in the west to Mission Bay in the east, from Fort Mason in the north to Bayview in the south — add up to more than the previous two years combined and represent the most in a single year since at least 2000.
…
All over California, 277 bank branches have closed so far this year, second only this century to 2020, when 325 branches closed. Branch openings are a much rarer occurrence: Only eight have occurred statewide this year.
Some of the closures are related to well-known crises, like the failure of Silicon Valley Bank earlier this year. Some of them are simply the result of the move to online banking, an to industry-wide consolidation.
(Excerpt) Read more at breitbart.com ...
That possibility will be in November 2024. She is still in her first term.
However no strong conservative with any sort of chance seems to be in the bullpen.
I doubt this will be confined to San Fran, as the financial market starts their transition away from physical locations.
I doubt there’s even a remotely moderate Democrat.
Nothing says great like having your mayor named after another city.
> I doubt this will be confined to San Fran, as the financial market starts their transition away from physical locations. <
In my neck of the woods, PNC is closing branches while Chase is opening branches. I can’t figure that out.
Keep voting Democrat.
NYC is headed down the toilet too. Be watching for Wall Street to move out in to the near future.
Branch banks are obsolete. With direct payroll deposit, deposit by I phone and debit cards, there is no real need to visit a branch bank.
At this point with Congress I don’t think it matters that much anymore. The GOP is in charge of the House and the panel/committee responsible for banking will eventually come out and force banks to keep these branches in urban and social ‘deserts’ to remain open to ‘serve the people’. Closing them, after all, is racist.....
I got a check for $2.17 just yesterday for some class action suit.(TD Bank)
I will burn $2 in gas to deposit it…
No mention of which banks. Is Breitbart going the way of Gateway?
When you see “BOMBSHELL!”, you’ll know…
People who can leave a hellhole usually leave at some point - and they take their money with them.
Headline is a lie, as usual. Closing branches isn’t closing banks. The need to “visit” a bank is almost completely gone. The last time I visited a bank was about 18 months ago to exchange Euros for dollars.
My 25 year old son uses Aly bank. This is an internet ONLY bank. No branches. He is typical of his generation. No reason to go to the bank for the average consumer.
I am an investor in a local business bank here in NH. They have two locations. 57% percent of their AR is business loans. They DO NOT write mortgages. They will give an individual a checking or savings account.
Who needs banks when nobody has any money to pay for loans repo drivers making overtime big time.
I never borrow from banks, banks are parking places for money waiting to be invested.
“I am an investor in a local business bank here in NH.”
Excellent investment in my experience. I’ve invested in two bank startups. Both were gobbled up by larger banks in about 7 years, 600+% return on each.
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