From Marketplace.org (2 minute audio):
Charles Kahn, who teaches finance at the University of Illinois, says it makes sense that banks are closing branches to cut costs — specifically, real estate and personnel costs. Also, Kahn says banks have a lot more competition, from credit card companies and brokerage firms, for instance.
What’s lost when a branch closes?
Questions for your students:
- How do your students bank today?
- What role does a physical bank branch play in their financial lives today?