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Finance

MUFG Union Bank avoids closures with bare-bones branches

US bank's shift to smaller locations serves as litmus test for Japanese parent group

There are roughly 300 Union Bank locations across the U.S., including this one in Seattle. (Photo by Yumiko Oshima)

NEW YORK -- Japanese-owned MUFG Union Bank will make more than 80% of its U.S. branches stripped-down locations to cut costs while maintaining its reach to customers, its newly appointed CEO said in an interview.

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