Why Are All the Local Capital One Branches Closing?

Is it me, or are all the local Capital One banks in the city disappearing? That is one of my banks, and it's been a struggle locating a branch that's open in the area these days. What is going on?

I did some research and discovered Cap One isn't the only major banking brand closing branches across the state. The fact is, JP Morgan Chase and Capital One branches are not only closing several branches in Louisiana but nationwide, as well. The question is why? According to the latest reports, the pandemic has led to less foot traffic and more customers using digital services.

Long story short, two of the nation's largest banks are consolidating branches as they enjoy tremendous success with online banking and mobile apps. I guess it makes a lot of sense. To be honest, it is very rare that I go to a bank branch myself, but I use the mobile app all the time. Needless to say, it's being reported that between Capital One and JP Morgan Chase, they've closed 34 bank branches in the last two years here in Louisiana alone. For more details about the future of branches near you, click here.