At what point does conducting business outside of a traditional branch become a new branch and require regulatory approval? In the past, the bank has gone to schools and opened accounts, and that doesn't seem to be a problem. They have also accepted deposits off-site for short periods of time. Now, they propose to go to a particular site (e.g., retirement home) twice a month for a few hours, to accept deposits and cash checks. Aside from security issues, is this a problem? When does it become a "branch"?
Thanks!
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Sarah, CRCM