Once again it is proven that overzealous regulations hurt the people that they supposedly protecting. What a ****ing joke.Most of these closings are taking place in poor communities. With new regulations, itís more difficult for banks to make money on overdraft fees, and itís possible that banks in poor communities rely on this type of revenue more than others. Banks are being replaced by payday loan storefronts and check cashing businesses, services that cater to the needs of poor communities, but are more predatory, more expensive, and more financially damaging to consumers and the community in the long run.
Bank Branches Abandon Poor Communities