US bank mergers have not cut branch access – Cleveland Fed
Despite fall in banking firms, number of branches has grown, research finds
US residents are finding access to physical bank branches no more difficult today than they did in 2000, and sometimes even less so, according to new research.
A paper from the Federal Reserve Bank of Cleveland shows that although the US had 37% fewer banks by 2020, these collectively boasted 15% more bank branches.
The paper finds the number of branches grew in the 2000s, before declining somewhat in the 2010s. Still, urban US residents lived about the same average distance from a bank branch
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