BANK OF AMERICA TO CLOSE BRANCHES

Bank of America may close up to 10% or 600 of its branches. Branch closures driven by the adoption of mobile and online banking, as customers shift away from physical brick and mortar banking.

Bank of America plans to close around 10% of its 6,100 branches in response to shrinking customer demand as people turn to online and mobile banking, according to the Wall Street Journal.

Citing people familiar with the conversation, the paper says bank CEO Kenneth Lewis outlined the plan to investors in a meeting last week. Read more here: http://www.finextra.com/fullstory.asp?id=20314

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