(Natural News)—JPMorgan Chase, America’s largest bank, will have shut down 159 branches across the country by the end of 2023.
For Chase Bank’s customers, these closures represent serious inconveniences, if not outright terrible disruptions to their lives. Services previously offered by human bank tellers and other banking professionals who used to staff these now-shuttered branches have now been replaced by automated customer service helplines. (Related: Largest banks in America have collectively cut 20K JOBS so far this year.)
Twenty states have or will be impacted by the Chase Bank branch closures. Some, like Wisconsin and Wyoming, will only have one branch closed in each state. Others have more than a dozen branches being shut down by the end of the year.
California is the hardest hit of all, with the state recording a total of 46 branches that will have closed by the end of the year.
Kentucky, Louisiana, Massachusetts, Nevada and Utah will see two branches shut down in each state by the end of the year. They are followed by Connecticut and Michigan with three branches each; Arizona and Florida with five branches each; and Colorado, Indiana, New Jersey, Ohio and Washington with six branches each.
Along with California, three other states will see double-digit number of Chase Bank branches shut down by the end of the year: Texas, New York and Illinois, with 13, 17 and 24 branches, respectively.
Bank of America, Wells Fargo and Citi Bank also shutting down hundreds of branches
The latest data from the Federal Deposit Insurance Corporation notes that approximately 8,000 bank branches were in operation in the U.S. in 2000. By 2022, this figure had been halved. Other Big Banks in America are also reporting dozens of bank closures, including the Bank of America, Wells Fargo and Citibank.
According to data provided by the Bank of America to the Office of the Comptroller of Currency, the bank will be shutting down 138 locations. To date, at least 95 of those branches have already been closed. Fifteen more will shutter by the end of the year, and the remainder will stay open up to 2024.
Wells Fargo has closed 61 branches so far – a number expected to increase to 65 before December. A spokesperson for the company claims many of its customers are already taking advantage of “our wide range of digital capabilities for many of their banking needs.” As a result, fewer and fewer transactions are being carried out in person in branches.
“We continually evaluate our branch network in light of changing customer needs, increased usage of digital banking and market factors,” added the spokesperson.
Citigroup, the parent company of Citibank, claimed that its shuttering of branches not just in the U.S. but globally is part of a shift in the company’s strategy to focus on wealth management. The shuttering of Citibank branches is aimed at focusing on more affluent clients and generating higher returns through feel while simplifying operations and reducing complexity and capital requirements.
Citigroup’s wealth division handled $746 billion of wealth globally in 2022, significantly lower than Bank of America’s own wealth management division, Merrill Lynch, which had an asset size of more than $2.8 trillion in the same year.
Collapse.news has more stories about bank closures. Watch this special report from Next News Network reporting on the downgraded credit ratings of major U.S. banks.
This video is from the News Clips channel on Brighteon.com.
More related stories:
- Bank payment processing outages highlight risks of relying on electronic banking.
- 1.8M fraudulent transactions led banks to close accounts of innocent customers without warning or explanation.
- Banking system showing more signs of COLLAPSE as customers report widespread deposits.
- Why are online banking services suddenly being disrupted on a massive scale all over the United States?
- Big Banks LAYING OFF tens of thousands of workers, including over 20,000 employees in the U.S. alone.
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Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
But will JPMorganChase, which formed a partnership with the Bank of China dating back to 1973, open up branches elsewhere???
When Manpower, then the largest temporary personnel agency, closed 1,000 offices across America in 2003, they then OPENED 900 offices in China!?!?
JPMorganChase, then not fully named in 2000, purchased the international banking concern, Flemings, based out of Hong Kong. The banking firm, the same Fleming family Ian Fleming, raconteur and author of 007, James Bond, was from!
The original Flemings founder built his fortune as an enterprising Brit who sold SANDBAGS to the armies of America during the CIVIL WAR, then funneled that money into banking!
Is America being SANDBAGGED???
The top banks, secretly owned by nobody knows who —- as a finance professor stated in 1973 —— I repeat 1973, 1973, 1973 — — nobody knows who owns the banks, a major secret the rubes never glean onto!!!
Their major sharehoders, of course, are BlackRock, Vanguard, State Street and Fidelity, who are the major shareholders in each other, thus forming a singular ultra–cross–shareholding financial construct, beyond the comprehension of the typical AmeriRube, but who are those shareholders through those investment firms — — NOBODY KNOWS!
The newly elected President Bill Clinton’s strange first action as president was to direct the SEC to drop their mandatory requirement for Wall Street investment firms noting who their PRIMARY INVESTORS (owners) were, thus hiding ownership?!?! Odd action for a guy who didn’t know squat about finance?!?!
Probably simply the logical precursor to the fullscale adoption of CBDC to fully control the masses, the peasant class of North America! This is supposition on my part as I have no special insider knowledge —— all I know for certain is that NONE OF THE PUPPETMEDIA ever bothered to report that Saule Omarova, the fave of the Federal Reserve and Peterson Institute, founded by David Rockefeller and Peter G. Peterson, the Rockefeller protégé (JPMorganChase is historically a Rockefeller bank), who was that rejected nominee to head the OCC, was a major evangelist for the CBDC and central banking control!
Odd no fake newsy would mention that?????
Citi Bank and Citigroup, strangely sold MONEY–BACK GUARANTEED CDOs, which were illegal under tax law deductions for “investments” as they did NOT fit the legal definition —— yet somehow the US Government bailed out Citigroup (largest recipient of those TARP bailout funds in America) so therefore supported those money–back guaranteed CDOs?!?!
Their head of Alternate Asset Management then was Jack Lew, later to be the Obama Treasury Secretary —- good golly Ms. Molly?!?!
Weird how all this random CUHRAP works???
Very recondite, little known fact: for decades there was always a Bush family member at Goldman Sachs; a Bush, or Walker or White name will appear on their employee rolls, and definitely a Bush family member!?
How very obscure –– of course, like Robert Mueller’s family fortune, the Bush family fortune originated from the Rockefeller family (via Frank Rockefeller, John D.’s younger sibling) who gave the Ohio Buckeye Ball Bearing Company to Samuel Bush for some unknown reason?!?! (Like Robert Mueller’s Truesdale ancestors were handed a Rockefeller railroad, but in their case we know that it was payment for dynamiting the refineries of competitors to the Rockefeller interests, then other Truesdale shysters defended the Truesdale dynamiters in court!)
During the JFK Administration at least 40 members of that administration were financially connected to the Rockefeller Brothers Fund (doubtful President Kennedy was aware of that)!? JPMorganChase is traditionally a Rockefeller bank, so these are pertinent facts!