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The Financial Brand: Brace Yourself for an Angry Online Mob When Closing Branches

The Financial Brand, March 11, 2021, Brace Yourself for an Angry Online Mob When Closing Branches

Banks and credit unions are increasingly shuttering brick-and-mortar locations. When they do, consumers flock to the internet with complaints about greedy, heartless bankers who don’t listen to their concerns. As financial institutions continue to downsize their retail networks, how will they handle the angry voices in the crowd?

The CEO of the National Community Reinvestment Coalition, Jesse Van Tol, highlights how branch closures affect low-income areas. “The impact of these closures is severe,” Van Tol explains. “Especially on lower-income urban communities where few branches exist.”

 

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