Bank Branch Closures in Black America: Key Capitol Hill committees question reasons, effects
In recent weeks, key Capitol Hill committees held hearings with CEOs of some of the nation’s largest commercial banks. At issue for both California Congresswoman Maxine Waters, Chair of the House Financial Services Committee, and Ohio’s Senator Sherrod Brown, Chair of Senate Banking, are disturbing industry trends like growing mergers, closing bank branches, and a push towards online services that together create ‘banking deserts’ in already underserved communities. […]