BOA has told U.S. regulators that it might retreat from some parts of the country if the financial problems get worse.Bank is looking forward to eliminate complexity and strengthen balance sheet according to Jerry Dubrowski spokesperson of BOA
Right now Bank of America, which had 5,715 branches at the end of September, has already said it plans to shutter about 750 locations over the next few years as part of a broad cost-cutting initiative. Wells Fargo & Co has about 6,300 branches, while JPMorgan Chase & Co said on Friday that it has about 5,500.