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The disappearing bank branch | Washington Business Journal

November 23, 2018
  • D.C. Policy Center

Washington Business Journal quoted D.C. Policy Center Executive Director Yesim Sayin Taylor in an article about the declining number of bank branches as their impact on small businesses:

Some believe a change in mindset is required: A bank branch, even if unprofitable at a particular outpost, can increase the brand’s overall name recognition or generate good will in a community, said Yesim Taylor, executive director of the D.C. Policy Center.

District-based Moxy Holdings Inc. hopes to break the region’s 10-year drought of new bank formation by offering a new take on banking — a subscriber-style approach with a physical location near the Potomac Avenue Metro station at 1301 Pennsylvania Ave. SE. It plans to couple a digital approach with live teller meetings and a high-touch experience in return for a $3.99-per-month fee. Led by CEO and Carolina Premier Bank veteran Casey Mauldin and Chairwoman Melissa Bradley of Project 500, Moxy Bank said it hopes to appeal to underbanked populations with a more mobile experience, as well as wealthier people looking to forgo the series of fees that often greets them elsewhere.

Read more: The disappearing bank branch: Fewer branches mean fewer loans and fewer options for small businesses | Washington Business Journal


D.C. Policy Center

Established in 2016, the D.C. Policy Center is a non-partisan research and policy organization committed to advancing policies for a strong and vibrant economy in the District of Columbia. Through rigorous research and collaboration, the D.C. Policy Center develops and tests policy ideas, disseminates its findings, and engages in constructive dialogue and debate.

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