Baltimore Brew, October 23, 2017: One branch’s closure sparks a battle against “banking deserts” in Baltimore
“Bank branches are there to manage a community’s wealth as well as to reward the bank’s shareholders,” said John Taylor, president and CEO of the National Community Reinvestment Coalition.
“Yet those branches are often closed in order to create more profitability for the bank, even when those branches are viable, without consideration of what happens to people and businesses in those communities,” he said.
Taylor’s remarks came with the NCRC’s release earlier this year of a report that showed inner city and rural communities bore the brunt of the closures.
