• How AI Enhances User Experience in React Native Apps

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    How AI Enhances User Experience in React Native Apps Discover how AI enhances user experience in React Native apps, making them smarter and more intuitive. From personalized recommendations and voice assistants to predictive analytics and chatbots, AI-driven features boost engagement and efficiency. Learn how businesses are integrating AI in React Native to create seamless, responsive, and intelligent mobile applications that elevate user satisfaction. READ MORE: https://www.indianapolis24wire.com/how-ai-enhances-user-experience-in-react-native-apps #reactnativeappdevelopmentcompany #mobileappdevelopmentcompanyinDubai #reactnativeapp #UI/UXdesign
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  • Wanted war criminal Benjamin Netanyahu addresses Congress
    Benjamin Netanyahu addressed a joint meeting of Congress to bolster support for Israel’s genocidal assault on Gaza. About half of the Democrats in Congress skipped the speech where he vowed to continue the attack until “total victory” is met.

    Michael ArriaJuly 24, 2024
    Benjamin Netanyahu is applauded by Rep. Mike Johnson and Sen. Ben Cardin during his speech to Congress on July 24, 2024
    Benjamin Netanyahu is applauded by Rep. Mike Johnson and Sen. Ben Cardin during his speech to Congress on July 24, 2024
    On Wednesday Benjamin Netanyahu addressed a joint meeting of Congress in an effort to bolster support for his country’s brutal 10-month assault on Gaza. The Israeli Prime Minister’s visit to the United States comes amid political tumult, as GOP presidential nominee Donald Trump narrowly survived an assassination attempt less than two weeks ago and President Joe Biden recently announced he would drop out of the 2024 race.

    It was the fourth time Netanyahu had addressed Congress, the most for any world leader in U.S. history. Netanyahu was invited to address Congress by House Speaker Mike Johnson (R-LA).

    In a fiery, defiant speech Netanyahu defended Israel’s genocidal actions in Gaza, warned of an alleged nuclear threat from Iran, and called on lawmakers to embrace the special relationship between the United States and Israel.

    LIVE: Netanyahu delivers speech before Congress
    “We meet today at a crossroads of history,” he told attendees. “Our world is in upheaval. In the Middle East, Iran’s axis of terror confronts America, Israel and our Arab friends. This is not a clash of civilizations. It’s a clash between barbarism and civilization. It’s a clash between those who glorify death and those who sanctify life for the forces of civilization to triumph. America and Israel must stand together.”

    “America and Israel must stand together. When we stand together something really simple happens: we win, they lose,” he added.

    The Prime Minister also presented loose post-war plans, claiming that “a new Gaza could emerge,” after Israel defeats Hamas. He insisted that his government has no plans to “resettle” Gaza, but vowed to keep attacking Gaza until a “total victory” was achieved.

    The tens of thousands around the world who have protested against Israel’s genocidal war were smeared as “Iran’s useful idiots” in the speech. The line was met by one of many standing ovations.


    Protests

    Thousands took to the streets of D.C. to protest the speech.

    The actions were kicked off Tuesday night when more than 300 people were arrested during a protest at the Cannon House Office Building, organized by Jewish Voice for Peace (JVP).


    “It is utterly shameful that U.S. lawmakers would invite war criminal Netanyahu to address Congress. We are hundreds of American Jews calling on our elected leaders to stop funding and fueling this genocide,” said JVP Communications Director Sonya Meyerson-Knox.


    Netanyahu’s motorcade was forced to reroute after protesters blocked streets around the Capitol by locking arms while holding a banner reading, “STOP ARMING ISRAEL.”


    Calls for Netanyahu to be arrested were a consistent feature of the protests.

    The International Criminal Court is currently seeking warrants for the Israeli Prime Minister, Defense Minister Yoav Gallant, Hamas leader Ismail Haniyeh, Hamas leader Yihya Sinwar, and Hamas military leader Mohammed Deif over possible crimes against humanity.

    Activists and politicians have also used the moment to highlight the need for a U.S. arms embargo Palestine solidarity activists have been calling for an end to U.S. weapons shipments for years, and this week organizers with the Uncommitted Movement launched a 4-week push based around that specific demand.

    The Not Another Bomb campaign hopes to pressure delegates to back the effort at the Democratic National Convention next month. They are circulating a petition that calls on Vice President and presumptive Democratic presidential nominee Kamala Harris to embrace the the embargo.


    “Adopting an arms embargo against Israel’s assault on Gaza is not only a moral imperative but also a strategic move to defeat Trump and MAGA extremism. It is difficult for the Democratic candidate to champion democracy while arming Netanyahu’s authoritarian regime,” it reads. “Supporting Israel’s war on Gaza undermines our fight against MAGA extremism and contradicts our core values of human rights and justice. By taking a strong stand against Netanyahu’s authoritarian policies, the Biden-Harris administration can unify the Democratic Party and regain the trust of key voter bases, including young people, Arabs, and Muslims.”

    Harris skipped Netanyahu’s congressional address over a previous engagement in Indianapolis (a move that Israeli officials called “disappointing”), but is scheduled to attend meet with him on Thursday, as is President Biden.

    Family members of Israeli prisoners were arrested outside the speech while wearing t-shirts that read, “SEAL THE DEAL NOW,” a call for the Netanyahu government to negotiate a hostage deal with Hamas.


    Lawmakers Boycott Speech

    About half of the Democrats in Congress skipped Netanyahu’s speech, including House Speaker Nancy Pelosi (D-CA) and former House Majority Whip Jim Clyburn (D-SC).

    Some, like Harris, cited scheduling conflicts while others said they were boycotting the address over Gaza.

    “No, Netanyahu should not be welcomed into the U.S. Congress,” tweeted Sen. Bernie Sanders (I-VT). “On the contrary, his policies in Gaza and the West Bank and his refusal to support a two-state solution should be roundly condemned.”


    “By bestowing Prime Minister Netanyahu with a joint address, Congress is not only continuing to green-light genocide; it is actively celebrating the man at the forefront of that genocide,” said Rep. Cori Bush (D-MO). “Instead of platforming a war criminal, Congress should be imposing an arms embargo and using its leverage to force Netanyahu to end the bombing and bloodshed that has already killed over 39,000 Palestinians and failed to ensure the safe release of the vast majority of hostages, all while decimating schools, hospitals, homes, and humanitarian convoys.”

    “Years from now this body will be ashamed of its actions,” declared Rep. Summer Lee (D-PA) in a speech on the House floor.


    “Today Congress will undertake political theater on behalf of the State Department,” wrote Rep. Thomas Massie (R-KY). “The purpose of having Netanyahu address Congress is to bolster his political standing in Israel and to quell int’l opposition to his war. I don’t feel like being a prop so I won’t be attending.”


    Rep. Rashida Tlaib (D-MI), the only Palestinian-American member of Congress, attended the speech but held up a sign while many of her colleagues applauded Netanyahu’s comments. One of side of Tlaib sign read, “GUILTY OF GENOCIDE” and the other said, “WAR CRIMINAL.”


    “Make no mistake: this event is a celebration of the ethnic cleansing of Palestinians. It is a sad day for our democracy when my colleagues will smile for a photo op with a man who is actively committing genocide,” said Tlaib in a statement before the speech. “It is hypocritical to claim to be concerned about the massive death toll of innocent civilians, and then turn around and welcome the person responsible for these war crimes to our Capitol. Their silence is betrayal, and history will remember them accordingly. Our government must stop supporting and funding this genocide now.”

    Over 100 Congressional interns boycotted the speech in a coordinated sick-out.

    “In an act of protest, many of us have pledged to call in sick today, the day of Netanyahu’s address,” reads a statement from boycott participants. “We stand in full solidarity with the victims of Netanyahu’s actions. We call on all members of Congress to boycott the address and take a unified stand against what we believe is a ‘universal evil.’ We urge our representatives to respond to the collective will of the American people and reject any semblance of endorsement of Netanyahu’s actions.”


    “The most important thing you should know: in 2015, about 50 Democrats in Congress boycotted Netanyahu’s speech to Congress,” Democratic strategist Waleed Shahid pointed out on Twitter. “Today, it was 136 Democrats. Netanyahu and AIPAC are losing the Democratic Party.”


    The British medical journal The Lancet estimates that the death toll of Israel’s genocidal onslaught on Gaza will reach at least an estimated 186,000 Palestinians.


    https://mondoweiss.net/2024/07/wanted-war-criminal-benjamin-netanyahu-addresses-congress/
    Wanted war criminal Benjamin Netanyahu addresses Congress Benjamin Netanyahu addressed a joint meeting of Congress to bolster support for Israel’s genocidal assault on Gaza. About half of the Democrats in Congress skipped the speech where he vowed to continue the attack until “total victory” is met. Michael ArriaJuly 24, 2024 Benjamin Netanyahu is applauded by Rep. Mike Johnson and Sen. Ben Cardin during his speech to Congress on July 24, 2024 Benjamin Netanyahu is applauded by Rep. Mike Johnson and Sen. Ben Cardin during his speech to Congress on July 24, 2024 On Wednesday Benjamin Netanyahu addressed a joint meeting of Congress in an effort to bolster support for his country’s brutal 10-month assault on Gaza. The Israeli Prime Minister’s visit to the United States comes amid political tumult, as GOP presidential nominee Donald Trump narrowly survived an assassination attempt less than two weeks ago and President Joe Biden recently announced he would drop out of the 2024 race. It was the fourth time Netanyahu had addressed Congress, the most for any world leader in U.S. history. Netanyahu was invited to address Congress by House Speaker Mike Johnson (R-LA). In a fiery, defiant speech Netanyahu defended Israel’s genocidal actions in Gaza, warned of an alleged nuclear threat from Iran, and called on lawmakers to embrace the special relationship between the United States and Israel. LIVE: Netanyahu delivers speech before Congress “We meet today at a crossroads of history,” he told attendees. “Our world is in upheaval. In the Middle East, Iran’s axis of terror confronts America, Israel and our Arab friends. This is not a clash of civilizations. It’s a clash between barbarism and civilization. It’s a clash between those who glorify death and those who sanctify life for the forces of civilization to triumph. America and Israel must stand together.” “America and Israel must stand together. When we stand together something really simple happens: we win, they lose,” he added. The Prime Minister also presented loose post-war plans, claiming that “a new Gaza could emerge,” after Israel defeats Hamas. He insisted that his government has no plans to “resettle” Gaza, but vowed to keep attacking Gaza until a “total victory” was achieved. The tens of thousands around the world who have protested against Israel’s genocidal war were smeared as “Iran’s useful idiots” in the speech. The line was met by one of many standing ovations. Protests Thousands took to the streets of D.C. to protest the speech. The actions were kicked off Tuesday night when more than 300 people were arrested during a protest at the Cannon House Office Building, organized by Jewish Voice for Peace (JVP). “It is utterly shameful that U.S. lawmakers would invite war criminal Netanyahu to address Congress. We are hundreds of American Jews calling on our elected leaders to stop funding and fueling this genocide,” said JVP Communications Director Sonya Meyerson-Knox. Netanyahu’s motorcade was forced to reroute after protesters blocked streets around the Capitol by locking arms while holding a banner reading, “STOP ARMING ISRAEL.” Calls for Netanyahu to be arrested were a consistent feature of the protests. The International Criminal Court is currently seeking warrants for the Israeli Prime Minister, Defense Minister Yoav Gallant, Hamas leader Ismail Haniyeh, Hamas leader Yihya Sinwar, and Hamas military leader Mohammed Deif over possible crimes against humanity. Activists and politicians have also used the moment to highlight the need for a U.S. arms embargo Palestine solidarity activists have been calling for an end to U.S. weapons shipments for years, and this week organizers with the Uncommitted Movement launched a 4-week push based around that specific demand. The Not Another Bomb campaign hopes to pressure delegates to back the effort at the Democratic National Convention next month. They are circulating a petition that calls on Vice President and presumptive Democratic presidential nominee Kamala Harris to embrace the the embargo. “Adopting an arms embargo against Israel’s assault on Gaza is not only a moral imperative but also a strategic move to defeat Trump and MAGA extremism. It is difficult for the Democratic candidate to champion democracy while arming Netanyahu’s authoritarian regime,” it reads. “Supporting Israel’s war on Gaza undermines our fight against MAGA extremism and contradicts our core values of human rights and justice. By taking a strong stand against Netanyahu’s authoritarian policies, the Biden-Harris administration can unify the Democratic Party and regain the trust of key voter bases, including young people, Arabs, and Muslims.” Harris skipped Netanyahu’s congressional address over a previous engagement in Indianapolis (a move that Israeli officials called “disappointing”), but is scheduled to attend meet with him on Thursday, as is President Biden. Family members of Israeli prisoners were arrested outside the speech while wearing t-shirts that read, “SEAL THE DEAL NOW,” a call for the Netanyahu government to negotiate a hostage deal with Hamas. Lawmakers Boycott Speech About half of the Democrats in Congress skipped Netanyahu’s speech, including House Speaker Nancy Pelosi (D-CA) and former House Majority Whip Jim Clyburn (D-SC). Some, like Harris, cited scheduling conflicts while others said they were boycotting the address over Gaza. “No, Netanyahu should not be welcomed into the U.S. Congress,” tweeted Sen. Bernie Sanders (I-VT). “On the contrary, his policies in Gaza and the West Bank and his refusal to support a two-state solution should be roundly condemned.” “By bestowing Prime Minister Netanyahu with a joint address, Congress is not only continuing to green-light genocide; it is actively celebrating the man at the forefront of that genocide,” said Rep. Cori Bush (D-MO). “Instead of platforming a war criminal, Congress should be imposing an arms embargo and using its leverage to force Netanyahu to end the bombing and bloodshed that has already killed over 39,000 Palestinians and failed to ensure the safe release of the vast majority of hostages, all while decimating schools, hospitals, homes, and humanitarian convoys.” “Years from now this body will be ashamed of its actions,” declared Rep. Summer Lee (D-PA) in a speech on the House floor. “Today Congress will undertake political theater on behalf of the State Department,” wrote Rep. Thomas Massie (R-KY). “The purpose of having Netanyahu address Congress is to bolster his political standing in Israel and to quell int’l opposition to his war. I don’t feel like being a prop so I won’t be attending.” Rep. Rashida Tlaib (D-MI), the only Palestinian-American member of Congress, attended the speech but held up a sign while many of her colleagues applauded Netanyahu’s comments. One of side of Tlaib sign read, “GUILTY OF GENOCIDE” and the other said, “WAR CRIMINAL.” “Make no mistake: this event is a celebration of the ethnic cleansing of Palestinians. It is a sad day for our democracy when my colleagues will smile for a photo op with a man who is actively committing genocide,” said Tlaib in a statement before the speech. “It is hypocritical to claim to be concerned about the massive death toll of innocent civilians, and then turn around and welcome the person responsible for these war crimes to our Capitol. Their silence is betrayal, and history will remember them accordingly. Our government must stop supporting and funding this genocide now.” Over 100 Congressional interns boycotted the speech in a coordinated sick-out. “In an act of protest, many of us have pledged to call in sick today, the day of Netanyahu’s address,” reads a statement from boycott participants. “We stand in full solidarity with the victims of Netanyahu’s actions. We call on all members of Congress to boycott the address and take a unified stand against what we believe is a ‘universal evil.’ We urge our representatives to respond to the collective will of the American people and reject any semblance of endorsement of Netanyahu’s actions.” “The most important thing you should know: in 2015, about 50 Democrats in Congress boycotted Netanyahu’s speech to Congress,” Democratic strategist Waleed Shahid pointed out on Twitter. “Today, it was 136 Democrats. Netanyahu and AIPAC are losing the Democratic Party.” The British medical journal The Lancet estimates that the death toll of Israel’s genocidal onslaught on Gaza will reach at least an estimated 186,000 Palestinians. https://mondoweiss.net/2024/07/wanted-war-criminal-benjamin-netanyahu-addresses-congress/
    MONDOWEISS.NET
    Wanted war criminal Benjamin Netanyahu addresses Congress
    Benjamin Netanyahu addressed a joint meeting of Congress to bolster support for Israel’s genocidal assault on Gaza. About half of the Democrats in Congress skipped the speech where he vowed to continue the attack until “total victory” is met.
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  • 64 US Bank Branches File To Shut Down In A Single Week; Are You Affected?
    November 27, 2023
    By Naveen Athrappully

    Big banks such as PNC Bank and JPMorgan Chase have filed to close several branch offices in multiple states amid a troubling pattern of rising branch shutdowns in recent years.

    Between Nov. 12 and 18, several banks filed to close branch locations, with PNC Bank with the most filings, according to data from the U.S. Office of the Comptroller of the Currency. Pittsburgh-based PNC Bank filed for 19 branch closures—five in Pennsylvania, four in Illinois, three in Texas, two each in Alabama and New Jersey, and one each in Indiana, Ohio, and Florida.

    JPMorgan Chase followed closely with 18 filings—three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states, including New York, Illinois, Florida, and Massachusetts.

    Citizens Bank came in third with eight branch closure filings—six in New York, and one each in Massachusetts and Delaware. Minneapolis-based U.S. Bank filed for seven closures—three in Tennessee and one each in Missouri, Wisconsin, Ohio, and Illinois.

    Bank of America made five filings—two in New York and one each in Texas, Massachusetts, and California.

    Citibank filed for two branch closures, and Sterling, Bremer, First National Bank of Hughes Springs, Windsor FS&LA, and Aroostook County FS&LA made one filing each.

    Altogether, banks filed to shut down 64 branches.

    The recent closures are part of a long-term branch shutdown trend that has been ongoing over the past several years. A report from the National Community Reinvestment Coalition shows that between 2017 and 2021, 9 percent of all bank branches shut down. The closure rate doubled during the COVID-19 pandemic.

    According to data from S&P, there were 3,012 branch closures last year and 958 branch openings, leading to a net closure of 2,054 branches. This was the third consecutive year that net closings exceeded 2,000.

    One major factor that led to a surge in branch closures is the rise of digital banking, a trend that accelerated during the pandemic when people were stuck at their homes.

    A survey by the American Banking Association (ABA) conducted in September showed that 8 in 10 Americans used a mobile device to manage their bank accounts at least once in the previous month.

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    “Digital banking tools have made it more convenient and more secure than ever for consumers to manage their finances,” Brooke Ybarra, ABA’s senior vice president of innovation strategy, said, according to a Nov. 3 statement.

    Cost Saving, Negative Effects

    Going digital rather than expanding physical branch locations is also part of a cost-saving strategy for banking institutions. Opening a new site costs millions of dollars and several hundreds of thousands in annual recurring costs.

    Most of the operations done via a physical bank can now be done online. Digital transactions are cheaper than the costs incurred in transacting via bank tellers.

    On the flip side, the shutdown of bank branches can negatively affect customers, especially in small towns. Due to such closures, many towns have become “bank deserts,” where the nearest bank is more than 10 miles away.

    “When bank branches close, there are several adverse effects on the surrounding community. Small business lending and activity in the area declines. More people use alternative financial services that open them to unregulated and predatory financial practices. An important commercial tenant and employer are lost,” the National Community Reinvestment Coalition report said.

    “While consumers have embraced mobile and internet banking to one degree or another, they clarify that branches matter to them as well, and without branches nearby, they are more likely to be un- or under-banked.”

    A recent survey by Daily Mail found that 51 percent of Americans were either “very concerned” or “somewhat concerned” about the closure of bank branches.

    PNC Bank Closure

    PNC Bank registered the largest number of closure filings amid its heightened focus on cost-saving measures. During its second-quarter earnings call, CEO William S. Demchak said the bank is “going to have to take a hard look” at where it can “generate savings … without cutting the potential for growth.”

    At the time, Chief Financial Officer Robert Q. Reilly revealed that the institution was boosting the target of an expense reduction program by $50 million to $450 million. For next year, PNC Bank is targeting $725 million in expense cuts.

    PNC is the sixth-largest U.S. bank. The 19 branches that will be shut down are:

    202 N. Walnut St., Bath, Pennsylvania
    301 W. Trenton Ave., Morrisville, Pennsylvania
    14 N. Main St., Plains, Pennsylvania
    1969 E. 3rd St., Williamsport, Pennsylvania
    2 N. Mill St., New Castle, Pennsylvania
    321 Bel Air Blvd., Mobile, Alabama
    2811 Eastern Blvd., Montgomery, Alabama
    5650 S. Brainard Avenue, Countryside, Illinois
    2217 W. Market St., Bloomington, Illinois
    1949 E. Sangamon Ave., Springfield, Illinois
    505 West Liberty Street, Wauconda, Illinois
    8733 U.S. Highway 31 South, Indianapolis, Indiana
    528 Station Ave., Hadden Heights, New Jersey
    410 Main St., Orange, New Jersey
    115 E. Van Buren Ave., Harlingen, Texas
    407 S. Commerce St., Harlingen, Texas
    801 W. Kearney St., Mesquite, Texas
    1040 Mt. Vernon Ave., Columbus, Ohio
    1140 N. Main St., Gainesville, Florida
    In June, PNC shut 47 branches, followed by 29 closures in August. A spokesperson told The U.S. Sun at the time that the bank intends to shut down 147 locations as it focuses more on online banking. The closures were expected to make 60 percent of PNC’s banking business exclusively online.

    A spokesperson from the bank told the Philadelphia Business Journal that the 19 bank closures will take place on Feb. 16.

    Last month, the bank reported a drop in third-quarter profits and declared cutting roughly 4 percent of its workforce. The layoffs, which began on Oct. 6, will be completed by the end of the fourth quarter. The job cuts are expected to bring down the bank’s yearly personnel expenses by roughly $325 million or 5 percent.


    Above Phone De-Googled Private Communications: SHOP
    The bank also forecasts that its net interest income—the difference between the interest it receives on loans and the interest it pays on deposits—will shrink by 1 to 2 percent from current levels in quarter four. During the third quarter, net interest income had declined by 3 percent.

    “They (PNC Bank) recognize that there is definitely a headwind to the growth and their net interest income, mainly due to the higher deposit rates and higher funding costs,” Timothy Coffey, an analyst at Janney Montgomery Scott, told Reuters.

    “And so they’re trying to alleviate some of that headwind by doing what they can to cut their own non-interest expenses as a way to maintain their earnings.”

    Source: The Epoch Times via ZeroHedge

    Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.

    Image: Pixabay

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    https://www.activistpost.com/2023/11/64-us-bank-branches-file-to-shut-down-in-a-single-week-are-you-affected.html
    64 US Bank Branches File To Shut Down In A Single Week; Are You Affected? November 27, 2023 By Naveen Athrappully Big banks such as PNC Bank and JPMorgan Chase have filed to close several branch offices in multiple states amid a troubling pattern of rising branch shutdowns in recent years. Between Nov. 12 and 18, several banks filed to close branch locations, with PNC Bank with the most filings, according to data from the U.S. Office of the Comptroller of the Currency. Pittsburgh-based PNC Bank filed for 19 branch closures—five in Pennsylvania, four in Illinois, three in Texas, two each in Alabama and New Jersey, and one each in Indiana, Ohio, and Florida. JPMorgan Chase followed closely with 18 filings—three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states, including New York, Illinois, Florida, and Massachusetts. Citizens Bank came in third with eight branch closure filings—six in New York, and one each in Massachusetts and Delaware. Minneapolis-based U.S. Bank filed for seven closures—three in Tennessee and one each in Missouri, Wisconsin, Ohio, and Illinois. Bank of America made five filings—two in New York and one each in Texas, Massachusetts, and California. Citibank filed for two branch closures, and Sterling, Bremer, First National Bank of Hughes Springs, Windsor FS&LA, and Aroostook County FS&LA made one filing each. Altogether, banks filed to shut down 64 branches. The recent closures are part of a long-term branch shutdown trend that has been ongoing over the past several years. A report from the National Community Reinvestment Coalition shows that between 2017 and 2021, 9 percent of all bank branches shut down. The closure rate doubled during the COVID-19 pandemic. According to data from S&P, there were 3,012 branch closures last year and 958 branch openings, leading to a net closure of 2,054 branches. This was the third consecutive year that net closings exceeded 2,000. One major factor that led to a surge in branch closures is the rise of digital banking, a trend that accelerated during the pandemic when people were stuck at their homes. A survey by the American Banking Association (ABA) conducted in September showed that 8 in 10 Americans used a mobile device to manage their bank accounts at least once in the previous month. Activist Post is Google-Free — We Need Your Support Contribute Just $1 Per Month at Patreon or SubscribeStar “Digital banking tools have made it more convenient and more secure than ever for consumers to manage their finances,” Brooke Ybarra, ABA’s senior vice president of innovation strategy, said, according to a Nov. 3 statement. Cost Saving, Negative Effects Going digital rather than expanding physical branch locations is also part of a cost-saving strategy for banking institutions. Opening a new site costs millions of dollars and several hundreds of thousands in annual recurring costs. Most of the operations done via a physical bank can now be done online. Digital transactions are cheaper than the costs incurred in transacting via bank tellers. On the flip side, the shutdown of bank branches can negatively affect customers, especially in small towns. Due to such closures, many towns have become “bank deserts,” where the nearest bank is more than 10 miles away. “When bank branches close, there are several adverse effects on the surrounding community. Small business lending and activity in the area declines. More people use alternative financial services that open them to unregulated and predatory financial practices. An important commercial tenant and employer are lost,” the National Community Reinvestment Coalition report said. “While consumers have embraced mobile and internet banking to one degree or another, they clarify that branches matter to them as well, and without branches nearby, they are more likely to be un- or under-banked.” A recent survey by Daily Mail found that 51 percent of Americans were either “very concerned” or “somewhat concerned” about the closure of bank branches. PNC Bank Closure PNC Bank registered the largest number of closure filings amid its heightened focus on cost-saving measures. During its second-quarter earnings call, CEO William S. Demchak said the bank is “going to have to take a hard look” at where it can “generate savings … without cutting the potential for growth.” At the time, Chief Financial Officer Robert Q. Reilly revealed that the institution was boosting the target of an expense reduction program by $50 million to $450 million. For next year, PNC Bank is targeting $725 million in expense cuts. PNC is the sixth-largest U.S. bank. The 19 branches that will be shut down are: 202 N. Walnut St., Bath, Pennsylvania 301 W. Trenton Ave., Morrisville, Pennsylvania 14 N. Main St., Plains, Pennsylvania 1969 E. 3rd St., Williamsport, Pennsylvania 2 N. Mill St., New Castle, Pennsylvania 321 Bel Air Blvd., Mobile, Alabama 2811 Eastern Blvd., Montgomery, Alabama 5650 S. Brainard Avenue, Countryside, Illinois 2217 W. Market St., Bloomington, Illinois 1949 E. Sangamon Ave., Springfield, Illinois 505 West Liberty Street, Wauconda, Illinois 8733 U.S. Highway 31 South, Indianapolis, Indiana 528 Station Ave., Hadden Heights, New Jersey 410 Main St., Orange, New Jersey 115 E. Van Buren Ave., Harlingen, Texas 407 S. Commerce St., Harlingen, Texas 801 W. Kearney St., Mesquite, Texas 1040 Mt. Vernon Ave., Columbus, Ohio 1140 N. Main St., Gainesville, Florida In June, PNC shut 47 branches, followed by 29 closures in August. A spokesperson told The U.S. Sun at the time that the bank intends to shut down 147 locations as it focuses more on online banking. The closures were expected to make 60 percent of PNC’s banking business exclusively online. A spokesperson from the bank told the Philadelphia Business Journal that the 19 bank closures will take place on Feb. 16. Last month, the bank reported a drop in third-quarter profits and declared cutting roughly 4 percent of its workforce. The layoffs, which began on Oct. 6, will be completed by the end of the fourth quarter. The job cuts are expected to bring down the bank’s yearly personnel expenses by roughly $325 million or 5 percent. Above Phone De-Googled Private Communications: SHOP The bank also forecasts that its net interest income—the difference between the interest it receives on loans and the interest it pays on deposits—will shrink by 1 to 2 percent from current levels in quarter four. During the third quarter, net interest income had declined by 3 percent. “They (PNC Bank) recognize that there is definitely a headwind to the growth and their net interest income, mainly due to the higher deposit rates and higher funding costs,” Timothy Coffey, an analyst at Janney Montgomery Scott, told Reuters. “And so they’re trying to alleviate some of that headwind by doing what they can to cut their own non-interest expenses as a way to maintain their earnings.” Source: The Epoch Times via ZeroHedge Naveen Athrappully is a news reporter covering business and world events at The Epoch Times. Image: Pixabay Or support us at SubscribeStar Donate cryptocurrency HERE Subscribe to Activist Post for truth, peace, and freedom news. Follow us on SoMee, Telegram, HIVE, Minds, MeWe, Twitter – X, Gab, and What Really Happened. Provide, Protect and Profit from what’s coming! Get a free issue of Counter Markets today. https://www.activistpost.com/2023/11/64-us-bank-branches-file-to-shut-down-in-a-single-week-are-you-affected.html
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    64 US Bank Branches File To Shut Down In A Single Week; Are You Affected? - Activist Post
    Multiple states continue a troubling pattern of rising branch shutdowns in recent years.
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  • How to organize food shortage for the great reset. Burn Walmart in Indianapolis
    How to organize food shortage for the great reset. Burn Walmart in Indianapolis
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