Officials in Belmont, Mass., are considering whether to make it much more difficult for banks and credit unions to open branches there.
A proposed zoning amendment would require obtaining a special permit for any new branch in the Boston suburb, which already has a dozen.
Jay Szklut, Belmont's manager of planning and economic development, said the intent is to control branch proliferation. "The reason is, they do not contribute to a thriving commercial area," he said. "They do not contribute to commerce, they do not complement the shopping, and they limit the amount of space for retail activity."
The zoning amendment is expected to be voted on at the annual town meeting in April.
The proposal came in the wake of controversy over a new downtown branch for Leader Bank.
A similar measure was proposed in nearby Concord last year when Bank of America Corp. sought approval to build a branch there but was abandoned after the banking giant retreated.
