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Posting of holiday signs
by Richard Insley and Andy Zavoina, BOL Gurus
Question: How many days in advance of a bank holiday should the holiday closing signs be posted? Does this also apply to other bank closing situations, ie: funerals?
Answer by Richard Insley:
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Unless state law prescribes closing notices, these are merely a courtesy to your customers.
Answer by Andy Zavoina:
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Texas, as an example used to require posting a week in advance of a closing. That was repealed in 1993. But closing on your own, separate from your FRBs schedule does not excuse you from UCC, Regs J, CC, or clearinghouse rules with respect to paying checks, clearing checks, funds availability schedules, etc.
Likely you wouldn't have but a few days notice in the case of a funeral. It is generally not recommended that the entire bank close because of this. Hours can be reduced, but closing for the entire day can be a hardship to your customers. It usually requires "emergency" conditions to justify this.
National banks need to review 12 CFR 7.3000. I am not aware of other Federal laws addressing this. Look to your state, as mentioned above.
First published on BankersOnline.com 08/25/03
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