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Finance

Is Bank of America Going Out of Business?

When the COVID-19 pandemic started, it wasn’t unusual for people to walk up to their local bank and discover that the doors were at least temporarily locked. 

Colleen Haggerty, senior vice president of media relations for Bank of America, spoke about the temporary closures early on. According to Haggerty, “These temporary closures occur in areas where foot traffic is low, or when staffing is not sufficient for all to remain open…When a center closes, we work to reopen it as soon as possible…Clients also always have the ability to transact most financial needs through our ATM network, mobile and online banking.”

Days turned into weeks, which turned into months and many banks remained closed to the public. Six months later, many local Bank of America branches across the U.S. are still closed. Consumers want to know if their money is still safe. 

View more information: https://marketrealist.com/p/is-bank-of-america-going-out-of-business/

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