Snow When Are Bank Regulators Open For Business?
Why were examiners and regulation writers still hard at work when the rest of the federal government was shut down? These agencies are funded through the fees that banks pay to be examined and to be insured. A lapse in federal funding doesn't shut them down, but snow does! Washington's recent record snowfall shut down all of the area, so although your regulators had the funding to stay open, they couldn't get there for a few days!
Copyright © 1996 Compliance Action. Originally appeared in Compliance Action, Vol. 1, No. 2, 1/96
First published on 01/01/1996