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WaMu to close 300 branches; ATM cards still valid
January 19, 2009
(Chicago) Daily Herald:JPMorgan Chase & Co., which purchased Washington Mutual last September, plans to close 300 WaMu bank branches nationwide by March. WaMu customers should continue using their WaMu checks and debit/ATM cards, even if their branch is consolidating into a nearby Chase branch.
"I'm afraid there will be more of these consolidations as the stronger banks take over weaker institutions," said Tom Hough, chairman-elect of the Illinois Bankers Association. "That's what happened here with WaMu. Here you had two large companies that often had bank branches located near each other. There likely will be a loss of jobs and customer dislocation when this happens."
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