Audio Resource: Why Are Banks Closing Branches and Does It Matter?

From (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?