Banks accused of failing most vulnerable customers

Multiple banks have moved customer account applications to online-only platforms, affecting people experiencing homelessness or financial hardship who may lack consistent internet access or mailing addresses. The shift has made it more difficult for these customers to open basic bank accounts through in-person branches. A report on the banking industry documented this trend across several major financial institutions. The specific impact on account approval rates or the number of affected customers was not quantified in available statements.

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