BofA Yanks Most Teller Machines From Malls, Gas Stations
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Bank of America Corp., the lender targeting $8 billion in expense cuts, reduced its automated teller network almost 9 percent this year by yanking most of the devices deployed at U.S. gas stations and malls.
The bank’s total number of ATMs fell by 1,536 in the first half, a record decline, leaving it with 16,220 as of June 30, the Charlotte, North Carolina-based firm said last week. Bank of America didn’t renew deals to place its machines at sites owned by Simon Property Group Inc., the biggest U.S. shopping mall owner, and gas station operator Valero Energy Corp., said Anne Pace, a spokeswoman for the bank.