For years, bankers have bemoaned the looming death of the traditional bank branch. Now it looks like its actually starting to happen. Finally.
Last week brought a slew of announcements about branch closures from banks including JPMorgan Chase (JPM), Regions Financial (RF) and TCF Financial (TCF). Those cuts are notable, if more cosmetic than transformative; Regions closing 30 of its 1,700 branches amounts to more of the same careful pruning around the edges weve seen from expense-wary banks in the years since the financial crisis. But those handfuls of closures were overshadowed by a far more intriguing and potentially game-changing plan from PNC Financial (PNC).
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