Banks close branches in low-income areas, analysis finds

05/2/2013 | Bloomberg

A Bloomberg analysis has found that 93% of the 1,826 bank branches closed since late 2008 were in areas where the household income is below the national median. Wells Fargo spokeswoman Mary Eshet said the decision to close any branch "goes through rigorous analytics, including in-depth evaluation by our community development group which looks specifically at impacts to low- and moderate-income neighborhoods."

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