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Scoop.it!
Since 2009, Bank of America (BofA) has closed 1,597 branches in 253 counties across the US, selling the spaces to local banks in some areas and directing customers to further branches in others, according to The Wall Street Journal. For context, that's equivalent to 26% of the branches that the bank currently operates, and represents a big cut that's reflective of a rising industry trend. 
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Curated by Farid Mheir
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WHY THIS IS IMPORTANT
I remember a time in the late 90s early 2000s when cutting cost meant outsourcing to India. Today, it seems the trend is moving to digital. This stat from BofA is quite clear: digital saves costs.