A majority of U.S. counties have lost bank branches, and rural communities with poorer residents or large minority populations have been particularly hard hit
WASHINGTON—A majority of U.S. counties lost bank branches in recent years, and rural communities with poorer residents or large minority populations have been particularly hard hit, according to new Federal Reserve research.
A little more than half—51%—of the 3,114 counties in the U.S. saw net declines in the number of bank branches between 2012 and 2017, said the report released Monday, a result of industry consolidation in the wake of the financial crisis.
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