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August 26
Keeping Bank Secrets: Things you Can Go to Jail for Telling;
Mary Beth Guard

September 8
Checkup for your RDC Program;
Susan Orr

September 10
Critical Issues on Certificates of Deposit;
Deborah Crawford

September 16
S.A.F.E. Act - Auditing for Compliance;
Patricia Cashman

September 22
FinCEN's Beneficial Owners Proposal: What It Can Mean for You;
Sonja Kriegsmann and John Burnett

September 23
Bankruptcy 101;
Sam Ott



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#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: 58
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.

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#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: 49690
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.
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The opinions expressed are my own, take them or leave them.

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#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: 7513
Loc: Richmond, VA
Some states used to have these Depression-era laws, but they've probably been repealed over the years.
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...gone fishing.

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#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: 17250
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.
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The world is not a wish granting factory. Hazel Grace Lancaster

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#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: 49690
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.
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The opinions expressed are my own, take them or leave them.

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#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: 17383
Loc: Moron, Mongolia
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...
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Remember when Truth and Justice were the American Way?

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#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: 405
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.
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Keep Calm and Carry On
CRCM

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#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: 680
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.

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