Congressman Bennie G. Thompson Files Complaint with the Department of Treasury

[Washington, D.C.] – Representative Bennie G. Thompson (MS02) has filed a complaint with the Department of Treasury and the Consumer Financial Protection Bureau.  BankPlus’ decision to close its only branch in the town of Pickens, Mississippi leaves no other alternative, but to file a formal complaint with the Department of Treasury and the Consumer Financial Protection Bureau on behalf of the citizens of Pickens Mississippi.  (See attached letter.)

With the closing of this branch, the town of Pickens is left without a branch to transact business.  The proposed solution of an ITM machine does not meet the requirements of this underserved minority and elderly population.

BankPlus/BancPlus Corporation, was established in 1909 in Belzoni, Mississippi, to “enrich lives and build stronger communities.” This $7 billion corporation currently has eighty-four locations between Alabama, Louisiana, and Mississippi, primarily serving Central Mississippi and the Mississippi Delta. 

In 2000, BankPlus was named a Community Development Financial Institution (CDFI), which allows the bank to receive federal monies to focus on underserved and economically distressed communities.  The institution has since received about $350 million in federal funds to support communities like the town of Pickens.  Just this year, BankPlus received federal monies to support its purpose of enriching lives and building a stronger community, but instead, has decided to close its doors as the only financial institution in Pickens, Mississippi. 

“The departure of BankPlus places roughly 40% of citizens in Pickens with nowhere to make their financial transactions. Pickens has no public transportation, a large elderly population, and citizens on fixed incomes.  The closure of this bank is yet another hardship for this community.  BankPlus made a promise to enrich lives and help underserved communities but has decided to do the opposite of what they promised,” said Paulette Moore, Mayor of Pickens.

Mayor Moore went on to say, “BankPlus leaving, places a hardship for the town of Pickens.  There is not much in Pickens, and with the bank closing, it will be hard for the town to maintain a strong economic base.  I am completely against the departure of BankPlus and have asked them to stay.”

State Representative Bryant Clark, who represents Pickens, also expressed his thoughts about the closure of the bank, “The closure of BankPlus is very concerning.  For a poor town like Pickens, the bank has been the heart of the community.  We have a ton of senior citizens who do not have transportation and the closest bank they will have access to is at least 25-30 miles from Pickens.   The bank is a very important part of the community, and it is very needed.”