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



January 21, 2015
HMDA Soup to Nuts
David Dickinson

January 22, 2015
Navigating the Treacherous Waters of IRA Rollovers, Transfers and Beneficiary Payouts
Patrice Konarik

January 28, 2015
Mortgage Life Cycle
Part I
David Dickinson and Jerod Moyer

February 2, 2015
Answer HSA Questions with Confidence
Whitney Johnson

February 3, 2015
BSA/AML Compliance: Recent Developments and Common Errors
Ken Golliher

February 4, 2015
Mortgage Life Cycle
Part II
David Dickinson and Jerod Moyer

February 5, 2015
Annual Lending Compliance Recap
John Burnett and Andy Zavoina



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: 51895
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: 7705
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Some states used to have these Depression-era laws, but they've probably been repealed over the years.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: 17680
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.
_________________________
If you want to go fast, go alone. If you want to go far, go together. African proverb

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: 51895
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 Online
10K Club

Registered: 06/11/04
Posts: 17571
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: 686
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