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Wells Fargo, Bank of America announces changes

CHARLOTTE, N.C. -

(AP) - Wells Fargo and Bank of America are announcing changes to their operations nationwide.

The Charlotte Observer reports (http://bit.ly/14DKFFd) that Wells Fargo announced Wednesday that it's laying off 284 employees in Charlotte as it cuts its mortgage work force in the midst of rising interest rates. The lender said refinancing for home loans is slowing, thus creating less need for workers.

Wells Fargo says it has given employees 60 days' notice of the layoffs.

Officials at Bank of America say drive-up teller services are ending at some locations, including the Charlotte area because too few people are using them. The move also affects Bank of America branches from Atlanta to Houston.

It's part of a move which has the bank closing branches nationwide and reducing the number of automated teller machines.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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