Question: Is there a regulatory requirement within the Bank Protection Act that requires a minimum number of staff present in a branch banking office? I cannot find anything on this but have a feeling that there are some minimum requirement guidelines. Where can I find this information?
Answer: Actually, the only requirement here is adhering to the standard of the industry. In similar areas, with similar populations, and similar foreseeable problems, what are others in the banking industry doing. When the Bank Protection Act was revised, the regulators realized there is no "one-size-fits-all" possible security requirements. Therefore, the standard of the industry carries a great deal of weight in the case of litigation. It requires considerable research and documentation in order to justify your decisions about the number for branch staffing. One security officer told me his standard was whether or not he'd allow his daughter to work in that office. That became his 'standard'!
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 10, 1/04
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