2012-08-22 — mcclatchydc.com
``"The impact to the local economies could be devastating," said Mark Williams, a former bank examiner who teaches at Boston University. "As banks pull out, banking needs of the poor do not disappear; these needs are simply picked up by predatory payday lenders and pawn shops."
Bank of America said the closings, part of the efficiency initiative Project New BAC, will allow it to streamline expenses and better serve customers' changing banking habits. The Charlotte-based lender is ramping up mobile and online offerings, enhancing existing branches and ridding its network of the duplication that resulted from decades of mergers.''
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