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#2269039 - 04/13/22 05:28 PM ITMs at an LPO
Ann Offline
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Joined: Jul 2001
Posts: 554
South Carolina
What is your opinion if an Interactive Teller Machine (ITM) that takes deposits can be installed on premises of an LPO, not inside the building? What if it were at a remote location in the new market we are entering? I know ATMs do not impact the definition of a "branch"; just wondering about ITMs?

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#2269049 - 04/13/22 06:29 PM Re: ITMs at an LPO Ann
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,483
Pulling people out of the ditc...
I'd suggest posing this question to your regulator, because in this case, theirs is the only opinion that matters. get it wrong, and you have issues.
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#2269052 - 04/13/22 06:34 PM Re: ITMs at an LPO Ann
Ann Offline
Platinum Poster
Joined: Jul 2001
Posts: 554
South Carolina
Thank you - will do!

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#2269082 - 04/13/22 09:13 PM Re: ITMs at an LPO Ann
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,485
On the Net
Another area where regs and guidance haven't kept up with technology. I can see the examiner wanting to know the exact distance the ITM would be from the LPO. The "as good as" side of me says they don't want to see the rules worked around, but a follo-up here would be appreciated as others may have this question.

ANd who knows, maybe someone who has asked can post here...
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My opinions are not necessarily my employers.
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