Click to return to BOL home page
Banker Store Read A Reg BOL Insiders Career Connect Learning Connect Bankers Information Network



April 2, 2015
Fair Lending Hot Topics – Don't Get Burned!!
Patricia Cashman

April 7, 2015
Building a BSA Training Program
Deborah Crawford

April 8, 2015
Advertising Compliance
David Dickinson

April 14, 2015
A – Z of Reg E
Andy Zavoina

April 16, 2015
Loan Servicing Requirements for Small Servicers
John Burnett

May 5, 2015
Sixty Critical Steps to Handle Delinquent and Abandoned Boxes
David McGuinn



Topic Options
Manage Topic
#1485623 - 12/26/10 07:33 PM Can a Bank be closed for more than 3 days?
GoPirates Offline
Member

Registered: 05/15/06
Posts: 59
Is it really true that a bank cannot be closed for more than 3 days? I've heard it for years, but have never seen it in a regulation. Can someone point me to a regulation or law that states the number of days a bank may be closed. Interested particularly due to inclement weather around a weekend or holiday.

Top
General Discussion
#1485627 - 12/27/10 08:28 AM Re: Can a Bank be closed for more than 3 days? [Re: GoPirates]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 52517
Loc: Galveston, TX
There is no such specific law. The closure of banks on normal business days would be governed under the OCC regulations for National Banks or State law for State banks.
_________________________
The opinions expressed are my own, take them or leave them.

Top
#1485803 - 12/27/10 02:12 PM Re: Can a Bank be closed for more than 3 days? [Re: rlcarey]
Richard Insley Online
Power Poster

Registered: 10/26/00
Posts: 7821
Loc: Richmond, VA
Some states used to have these Depression-era laws, but they've probably been repealed over the years.
_________________________
...gone fishing.

Top
#1486098 - 12/28/10 10:49 AM Re: Can a Bank be closed for more than 3 days? [Re: GoPirates]
Ken_Pegasus Offline

10K Club

Registered: 08/30/01
Posts: 17948
Loc: Another trip around the sun
Appropriately enough, this issue is discussed on Snopes. (Some commenters note they will ask their banker. Good luck with that.)

It may have been true some time after the depression, but I doubt that it has a basis in fact now.
_________________________
You cannot launder your own paycheck. Princess Romeo

Top
#1486109 - 12/28/10 10:57 AM Re: Can a Bank be closed for more than 3 days? [Re: Ken_Pegasus]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 52517
Loc: Galveston, TX
Typically, if the bank has established a day as a normal business day, they would need permission from the OCC or State Banking agency to close on a non-holiday.
_________________________
The opinions expressed are my own, take them or leave them.

Top
#1487354 - 12/30/10 10:36 AM Re: Can a Bank be closed for more than 3 days? [Re: rlcarey]
HappyGilmore Offline
10K Club

Registered: 06/11/04
Posts: 17602
Loc: somewhere over the rainbow
There is still at least 1 bank in a southern state that I'm aware of that is closed on a weekday as they open on a Saturday. Very strange in this day and age...
_________________________
Get busy living or get busy dying.

Top
#1487780 - 12/30/10 06:24 PM Re: Can a Bank be closed for more than 3 days? [Re: HappyGilmore]
sewanee, CRCM Offline
Gold Star

Registered: 12/07/06
Posts: 406
Loc: TN
I know of a lot of banks in rural areas surronding our city that still close on Wednesday afternoon and are open on Saturday morning.
_________________________
____________________________________
Keep Calm and Carry On
CRCM

Top
#1487785 - 12/30/10 07:10 PM Re: Can a Bank be closed for more than 3 days? [Re: sewanee, CRCM]
Always In Training Offline
Platinum Poster

Registered: 07/11/06
Posts: 696
Loc: Where the Green Grass Grows
I know of a bank that is open Tuesday through Saturday in my surrounding area. (10 am until 2pm.) And they don't answer the phone after the doors close.

Top