For the first time in 15 years, more banks closed than opened in 2010. Looking closer into the numbers shows that the majority of banks that closed were located in poor areas, whereas, most new banks opened in wealthier areas. The New York Times Wall Street and finance reporter Louise Story has the details. Observers are concerned that as banks close in poorer neighborhoods, predatory lenders like payday loan providers and pawnshops may step in. These options are more expensive than traditional banking.