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Bank Of America To Close Some Branches

A newspaper report says Bank of America Corp.'s CEO Ken Lewis is planning to shrink the bank's 6,100-branch network by about 10 percent.

The Wall Street Journal reported Tuesday that Lewis disclosed the plans last week to investors at a meeting in Charlotte, N.C., the bank's headquarters. The paper is citing unidentified people familiar with the matter.

The move would be a pullback from the bank's two-decade expansion under Lewis' watch, which expanded the bank from coast to coast.

A Bank of America spokesman could not be reached for immediate comment.


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