Bank of America (Temporarily) Closes 100s of Locations: Blames Everything But Themselves

<p><strong>(Podcast contains explicit language, Listener Discretion is Advised)</strong></p> <p><br></p> <p>I made a prediction about 18 months ago</p> <p>Bank of America would love to "Try" to close down most branches in a market to see how clients would react and also to push their "alternative ways of banking agenda.</p> <p>Well, the mission has begun.</p> <p>Twitter was overrun with complaints of Bank of America being closed in Vegas and Bakersfield, CA during the beginning of July.</p> <p>Here is a report from <a href="https://www.8newsnow.com/news/local-news/bank-of-america-temporarily-closes-some-banks-due-to-staffing-shortages/">8 News Now in Vegas</a> and<a href="https://www.turnto23.com/money/business/bakersfield-bank-of-america-locations-closed-due-to-staffing-shortages"> 23ABC in Bakersfield</a> that mentions the same issue in those two towns with the EXACT SAME STATEMENT from a "BofA Spokesperson".</p> <p>(You get to hear my banker impression again)</p> <p>They basically try to play the sympathy card and state that they do this "out of an abundance of caution for employees and clients" due to COVID-19 and allude to possible scenarios where employees had to call out to care for family members. This from a bank that once told a female coworker in front of me, "Ugh..again?" when she announced her 3rd pregnancy plus the fact that you can't take off on the first week of the month without a DAMN good excuse. Why the change?</p> <p>The thing not thought about? Both states do their unemployment system through Bank of America, and the huge impact millions of additional people frequenting those branches and their ATMs led to massive cash shortages. Couple that with CEO Moynihan's desire to cut back on some of those services (As he mentioned in a Fox Business Interview in July 2019) and you see a bank rather have pissed off clients because they are closed, rather than them being open and not able to give out cash. The branches don't have the capability at the branch level to facilitate more cash ordered thats n