In June 2025, TD Bank, one of the largest banks in the USA, plans to close 38 branches in 10 states and the District of Columbia. This decision, which covers less than 4% of the bank's network, is part of an operational optimization strategy and adaptation to changes in customer behavior.
Reasons for the closure
TD Bank explains the branch closures as "routine business reviews," considering traffic, customer needs, product utilization, and community characteristics. However, this decision also coincides with the consequences of a fine exceeding $3 billion imposed by the U.S. Department of Justice in 2024 for violations of anti-money laundering laws. Fast Company
Impact on customers
The branch closures will affect customers in states such as Connecticut, Florida, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, South Carolina, Virginia, and the District of Columbia. Among them are branches in New York on Park Avenue and Lexington Avenue, as well as in cities like Miami Beach, Philadelphia, and Boston. AS USA
The bank assures that customers will be able to continue banking services through other channels, including online banking and mobile apps. However, for some customers, especially the elderly and those without access to digital technologies, this may pose a challenge.
The future of TD Bank
Despite the closures, TD Bank plans to open new branches in underserved communities such as Brighton Beach in Brooklyn and Nubian Square in Boston. The bank also announced leadership changes, appointing new leaders for retail banking in the USA. The US SunBanking News and Analysis | Banking Dive
These steps indicate TD Bank's effort to adapt to the new realities of the financial sector, focusing on digital solutions and efficiency, while attempting to maintain customer trust after recent scandals.
