Empty Bank Branches Do Not Help a Community

Any form of modernization of the Community Reinvestment Act must have measurable analysis of community value at the foundation, according to Jim Marous of The Financial Brand. A physical branch may not have any incremental value to a community — and in fact, may be detrimental — if it is open and empty, so long lending and investment in the community is strong.  Costly, dormant overhead contributes little to local economies, and the OCC should recognize that. The Financial Brand

  • Bo Brustkern is fascinated by the developments in Web3 and crypto, and how they will interact with the embedded systems of traditional finance. He is co-founder & CEO of Fintech Nexus, and operates mainly from his office in Denver, Colorado, USA.

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