Banking Failure

One of the very few bank branches servicing the East Side of Buffalo is closing.

It’s a tough spot. There’s really not enough money or customers to sustain a bank branch there, so it’s an intelligent business decision on their part. But without banking services, residents are going to be stuck with payday lenders and check-cashing storefronts, which are just a polite way of saying “parasitical usurers”.

The ironic part is that someone like myself could get by without a physical bank at all — there are plenty of online-only banks, which allow for all the services of a regular bank. But that assumes access to a computer, an Internet connection, a job that doesn’t pay in cash – everything that’s common in my neighborhood and uncommon in this one. Yet my neighborhood has plenty of banking services available, while this one no longer does.

The invisible hand squashes someone else like a bug.

3 Responses to “Banking Failure”

  1. Dan says:

    It’s not exactly the first thing that banks do that doesn’t seem to make economic sense.
    “You don’t have enough money in your account. So…we’re going to take some of it away.
    Now you, sir, have plenty of money! Have more!”

  2. Pitt says:


    Yeah, I got socked with an overdraft fee once. Mistimed a check, it happens to everyone at least once. Then you have a negative balance, which is really fun. And keep getting socked with fees until your next paycheck. I called the bank when it happened, and got them to reverse all the fees except for the first one, since all the subsequent fees were because of the first one. Still, not pleasant.


    Everyone these days has access to the intrawebs. I was in Charlotte about a year ago and had some time to kill, so I went to the Library. It was in a pretty shady part of town, and the computer lab was full when I got there.

  3. matt says:

    “We have -$50 in our checking account. We’d have to raise fifty bucks to be broke.”

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