It's not a great sign if your bank is closing branches all over the country. And that's the case for many banks in the United States in 2024, in particular Bank of America, US Bank, and Citizens, which have had the most closures thus far. In all, 222 bank branches have closed in the first two months of the year, and if it keeps up at this rate, we'll be looking at the closure of around 1300 branches.

Why are these branches closing?

If you're wondering why the branches are closing, the answer, of course, is money. With each branch closure, they save on salaries and overhead. There are no employees to pay, no rent is owed, and no utility bills are racked up.

It's been estimated that Bank of America's 41 branch closures saved them over $100 million.

I think it's also a worrisome sign that these changes have needed to occur. We've talked often on this website about the looming failure of our American economy, and this seems to be a signal that things aren't as great as President Biden wants us to believe. I'm personally a strong believer in putting my savings into gold and silver at this point because I simply no longer feel that the dollar is a viable unit of savings. If you're interested in learning more about how to do this, you can call my friends at ITM Trading absolutely free and discuss it with them. There's no pressure at all – it's merely educational – and I think you owe it to yourself to learn how to protect your savings in the months ahead.