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Banks closed record number of branches last year, while NWI has lost a fifth of brick-and-mortar banks over past decade


Many transactions that used to require a visit to a bank branch, such as to deposit a check or wire someone money, now can be done with a smartphone in the comfort of one s own home.
As more banking has migrated online and to mobile devices, banks closed a record 3,324 brick-and-mortar branches across the United States last year, according to the business intelligence data service S&P Global Market Intelligence. Big national banks like U.S. Bancorp and Wells Fargo & Co. closed the most.
The shrinking of banks physical footprints nationwide included net closings of 58 branches in Indiana and 129 bank locations in Illinois. ....

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Fed's Evans says probably 2024 before rates start to rise


By Reuters Staff
1 Min Read
FILE PHOTO: Chicago Federal Reserve Bank President Charles Evans looks on during the Global Interdependence Center Members Delegation Event in Mexico City, Mexico, February 27, 2020. REUTERS/Edgard Garrido
(Reuters) - Chicago Federal Reserve President Charles Evans on Thursday said he believes the Fed will likely hold rates near zero until 2024 to give inflation time to return to 2%.
“With continuations of labor market improvement, unemployment falling to 4% and hopefully below that, it’s probably going to be 2024 before we see interest rates start to rise,” Evans told a virtual meeting held by Wisconsin Bankers Association and Indiana Bankers Association. ....

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