The affected TD branches will close before June 5, the bank said. The closures include branches in New York, New Jersey, Pennsylvania, South Carolina, Virginia, New Hampshire, Maine, Connecticut, Florida, Massachusetts and Washington, DC, DC
In October 2024, TD Bank agreed to pay more than $ 3 billion in fines After being guilty Coins that it collaborated in not maintaining an anti-money laundering program.
“As part of our normal business practices, we regularly evaluate existing TD bank stores, which can lead to some closures, consolidations or relocations, while we are looking for opportunities to better tailor our network of stores to the needs and preferences of customers. After a recent analysis, we made the difficult decision to close 38 locations, with effect from 5 June. We are dedicated to make this transition as smooth as possible for customers and look them out to serve them at one of our 1,100 TD bank locations or via our digital bank products and services, ”TD shared in a statement via e -mail.
Flagstar Bank’s parent company, Flagstar FinancialUnveiled in his income from the fourth quarter of 2024 in January that it was planning to close “approximately” 20 private customer offices and 60 retail films.
In October, Flagstar fired 700 employees and expected the transition from another 1,200 to Mr. Cooper Group As part of the sale of his external original (TPO) Business and MortGage Servicing Rights (MSRS).
It was later confirmed that Mr. Cooper would not be as much Flagstar employees as expected earlier.
Chief Financial Officer Lee Smith has drawn up the Flagstar Branch closures as ‘real estate optimization’. When asked about the consolation of branches, he said that “there are a few operational centers that we want to consolidate that we own and those from those to smaller facilities. There were around 20 private customer locations that we want to consolidate. And they are near other locations. So we are the feeling that we can be more efficient and cannot lose anything from the point of view of customer service.
“There are around 60 retail branches, of which we leases that we want to consolidate,” he added. “Again, this is close to other locations, so we don’t feel that there will be some disruption of the customer experience. We are the closure of those branches in three different phases of phasing, one of which is already going on, and then two more phases that will take place later this year. “
Flagstar, previously known as New York Community Bancorphas not announced the locations of the branch consolidations. But OCC records indicate that the branches are in New York, New Jersey, Michigan, Indiana and Ohio.
Flagstar did not respond immediately Housing Wire ‘s request for comments.
According to data from Inside Mortgage Financing, Flagstar is the 25th largest founder in the country and last year produces $ 14.9 billion in volume. TD Bank is the 37th largest manager in the country with $ 42.2 billion in property rights from the fourth quarter.
