Bank Of America Branch Closings

Bank of America one of the largest banks in the United States has announced it will be closing branches. Bank of America is headquartered in Delaware and its CEO is Ken Lewis. Currently, Bank of America has over 6,100 branches located throughout the United States. The bank plans to close 10% of those branches — Why? Reports suggest, Bank of America is feeling the crunch from online banking services. I’m guessing companies like ING Direct is giving Bank of America a run for its money. I do know for a fact, interest rates at online banks are usually higher. And that’s a good thing if you are interested in making interest income.

No official announcement has been made as to how this will effect employees at Bank of America. However, estimating that Bank of America will be closing 610 branches, I’m sure jobs at Bank of America will be cut too. Bank of America is the largest employer in Delaware. Delaware residents will feel the pain of jobs lose if branches close in Delaware.

Bank Of America Plans to Close Branches

Facts About Bank Of America

• Bank of America is the largest employer in Delaware
• Bank of America currently has over 6,100 branches throughout the United States
• Bank of America is headquartered in Delaware
• Bank of America stock quote symbol is BAC
• Bank of America is a member of the FDIC

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