Major bank closing branches in Pa., beyond: Here’s where – PennLive

A major bank is closing branches all across the United States.

This includes several of the bank’s locations in Pennsylvania.

Newsweek reports how TD Bank has announced its plans to close 38 branches across 10 states as well as Washington D.C. The doors to these locations will be shuttered by June 5.

The same Newsweek article confirms that three branches in the Keystone State will be impacted by these closures. Please see all three below:

• 8600 Germantown Pike, Philadelphia
• 101 Lancaster Ave., Frazer
• West Trenton Avenue and Carlisle Avenue, Morrisville

According to Banking Dive, TD Bank is closing these locations as part of a strategy to recover from a $3 billion settlement with the federal Department of Justice (DOJ) over accusations of money-laundering violations.

The same Banking Dive article states how TD Bank also underwent a restructuring strategy in its C-suite due to this lawsuit as well: Longtime CEO Baharat Masrani, for example, left the bank to be replaced by Raymond Chun.

“As part of our ongoing strategic and business-as-usual reviews of TD’s retail locations, we evaluation things like store traffic, customer needs, product use, and community landscape to determine any needed changes to our physical network,” a TD representative explained to Fast Company.

The representative then added to the publication: “We are committed to making this transition as smooth as possible for our impacted customers and colleagues and look forward to continuing to provide legendary service via one of our approximately 1,100 stores or any channel our customers choose.”

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