Federal Reserve Bank of Richmond: High & Dry - Banking Deserts Increased in Fifth District During Pandemic
August 23, 2024
August 23, 2024
RICHMOND, Virginia, Aug. 23 -- The Federal Reserve Bank of Richmond issued the following Regional Matters analysis on Aug. 22, 2024, by intermediate research analyst Surekha Carpenter, Disha Dureja and Avani Pradhan:
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The number of U.S. bank branches has been shrinking for years, but the COVID-19 pandemic accelerated the rate of closures. After the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 allowed banks to open branches across state lines, . . .
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The number of U.S. bank branches has been shrinking for years, but the COVID-19 pandemic accelerated the rate of closures. After the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 allowed banks to open branches across state lines, . . .