Analyst: 20,000 bank branches — or more — could close after COVID-19

U.S. bank branches have been closing at the rate of more than three a day for the last 10 years, according to the Federal Deposit Insurance Corp.They should be closing faster, some analysts say.“Given the shelter-in-place orders, the COVID-19 pandemic has accelerated mobile adoption,” with teller transactions down “30 to 40 percent” this year, as bank-by-phone replaces standing in the teller line, according to a report to clients by Michael Perito, regional bank analyst for Keefe Bruyette & Woods, a New York investment bank.Americans have been banking by phone at accelerating rates for 15 year…

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