Breaking the bank...we found out what happens to rural communities when they lose their local bank branch, and what they can do about it

Published: Nov. 29, 2023, 3:40 a.m.

Last year, Scotiabank closed its branch on Fogo Island, as well as two others in rural communities. This year it's planning to close eight more, including those in Bonavista, Twillingate and Lewisporte. The Bank of Montreal is closing its Botwood branch in the new year. The disappearance of local banking is worrying for those communities, and may open the door for other options. The CBC's Leigh Anne Power looked into the story.