Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#1971311 - 10/22/14 11:58 PM Discontinue ATM Services
Patrick Lee Offline
Junior Member
Joined: Jul 2014
Posts: 25
Rosemead, CA
I like to know if the bank decides to remove the ATM machine and completely not offer ATM services, does it require notification to regulator or approval from the regulator beside notifying the customers 30 days in advance?

Return to Top
Operations Compliance
#1971313 - 10/23/14 12:05 AM Re: Discontinue ATM Services Patrick Lee
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,722
Illinois
There is no requirement to notify a regulator of discontinuing ATM services. Prior to doing so, you may want to perform an analysis to make sure that the removal of this service will not have a disparate impact on low or moderate income customers and also be sure to update your CRA Public File to reflect the changes.
_________________________
Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!
www.tcaregs.com

Return to Top
#1971315 - 10/23/14 12:58 AM Re: Discontinue ATM Services BrianC
Patrick Lee Offline
Junior Member
Joined: Jul 2014
Posts: 25
Rosemead, CA
Thank you for the information! Will definitely look into the suggestion.

Return to Top
#1971959 - 10/24/14 07:27 PM Re: Discontinue ATM Services Patrick Lee
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Before you proceed, check whether there are any state laws on the question. It may be nothing more than a notice requirement, but do check it out.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top

Moderator:  Andy_Z, John Burnett