TD Bank Shutters 38 Branches Nationwide, Including 6 in New Jersey
Hey everyone, let’s talk about something that’s shaking up the financial scene — TD Bank has just closed 38 of its branches across the country, and if you're in New Jersey, this news hits especially close to home. Six of those closures happened right here in the Garden State.
Now, let’s unpack this. The banking world has been shifting gears for a while now. With more people moving to mobile apps and digital banking, fewer of us are walking into our local branches for day-to-day transactions. But this latest round of closures from TD Bank isn’t just about digital trends — it comes on the heels of a major scandal.
TD Bank agreed to pay a massive $3 billion fine after pleading guilty to a money laundering scheme. Federal prosecutors stated that the bank failed to uphold responsibilities under the Bank Secrecy Act, essentially allowing criminal funds to flow, including proceeds tied to Colombian drug cartels. That's a serious breach of trust, and the fallout is now hitting their physical presence.
In New Jersey, the six locations affected are:
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85 Pompton Ave., Cedar Grove
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1 Royal Rd., Flemington
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670 Laurel Ave., Holmdel
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191 E. Route 70, Marlton
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145 Skyline Dr., Ringwood
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555 Warren Ave., Spring Lake Heights
That’s a significant chunk, considering TD Bank is headquartered in New Jersey and has over 260 branches statewide. After these closures, they’ll be down to about 216.
This isn't just a TD Bank issue, either. The retail and service landscape across the U.S. is changing fast. Rite Aid, CVS, Hooters, Big Lots — they’re all downsizing or disappearing in certain areas. Rising operational costs and the shift in how we shop, bank, and dine are forcing companies to make tough decisions.
For customers, this means rethinking how and where they do their banking. If your local branch is closing, you’ll probably need to lean more on mobile apps, ATMs, or travel a bit farther for in-person service. It’s not ideal, especially for older customers or those who just prefer the human touch.
So whether it’s digital disruption or the aftermath of legal battles, the message is clear: our communities are feeling the ripple effects. And for those of us who rely on these services, staying informed and adaptable is more important than ever.
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