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BankersOnline.com Forums State-Specific Compliance Issues Tennessee Branch Closing Policy - TDFI?
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#2256422 - 07/08/21 03:41 PM Branch Closing Policy - TDFI?
J_G Offline
Gold Star
Joined: Dec 2010
Posts: 261
I am working on our branch closing policy. I know it's a requirement to notify our regulatory like 90 days prior to a branch closing, but is there any requirement to also notify the Tennessee Department of Financial Institutions (TDFI)?

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#2256427 - 07/08/21 04:08 PM Re: Branch Closing Policy - TDFI? J_G
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
Not sure of the citations, but the application to close a branch appears to need at least a no objection determination - see 2021 approved applications: https://www.tn.gov/tdfi/bank-trust/application-reports/2021-monthly-application-reports.html

You might call the TDFI and ask them about the process.
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#2256516 - 07/09/21 08:27 PM Re: Branch Closing Policy - TDFI? J_G
OnTheEdge Offline
Diamond Poster
Joined: Apr 2002
Posts: 1,677
SmallTown, USA
In my experience, the TDFI is much more interested in these issues than FDIC.
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The opinions expressed are mine and do not necessarily reflect those of my employer.

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