Branch Closings: Revised Comptroller’s Licensing Manual Booklet

The Office of the Comptroller of the Currency, OCC, has published an updated version of its Licensing Manual: Branch Closings. The Manual sets out the notification requirements of (foreign) national banks and savings associations seeking to close down a branch.
The Manual thereby describes in detail, among other things,
– the requirement of affected banks and savings associations to provide an advance notice to the OCC informing about the upcoming closure (at least 90 days prior to a planned closure);
– the requirement to provide a „Final Branch Closing Notice“ to the OCC following the close-down;
– the requirement to notify customers of an upcoming branch closing and the content of such notifications;
– the facilities not covered by the notification requirements; and
– certain exemptions from the notification requirement, e.g. in case of short distance relocations.
The lastest revised version, so the OCC, only contains minor modifications to remove outdated regulatory references and to make „minor modifications and corrections throughout“.