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#2183483 - 06/28/18 02:56 PM Safety Deposit Box
ComplianceNewb89 Offline
Member
Joined: Sep 2015
Posts: 85
I've been posed with several safety deposit box questions, but I'm having some difficulty finding guidance... What type of notices need to be sent to the consumer if we were to remove the boxes from a location? No longer offering that service at that particular location. I found information if we were closing a branch with boxes, but the branch will still be open.

Also, are we able to restrict box openings to only consumers with other accounts with us? (loan, DDA, SAV, etc) My gut is telling me no, but I haven't found anything in writing that backs that feeling.

Sorry if it seems like a stupid question. I just can't find what I need

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Operations Compliance
#2183624 - 06/28/18 09:49 PM Re: Safety Deposit Box ComplianceNewb89
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,365
Illinois
These answers will be found in state law and are not part of federal regulations. I suggest you post in either your state forum or contact bank counsel familiar with safe deposit law in your state.
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