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Banks Abandoning Suburbs: SNL Report

Since 2010, bank branches have decreased in the suburbs while increasing in city centers.

By David Morrison | Updated on July 10, 2014

Financial consultancy SNL released a report Thursday that showed bank branch closures since 2010 have skewed more toward suburbia and exurbia, as banks have begun chasing an overall trend toward increasing urban populations.

SNL pointed out Bank of America said it would favor retaining urban branches and consider closing suburban ones, and presented evidence that other banks have followed its lead.

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