Answers about National Bank Licensing

The bank is closing its branch in our town. Now the nearest one will be 50 miles away. Can the bank do this?

The OCC has no authority to prohibit national banks from closing branch offices. Generally, the bank should notify customers of the branch closing by-

  • mailing notices at least 90 days prior to the closing date of the branch and
  • posting a public notice at the branch 30 days prior to the closing date.

In addition, a bank proposing to close a branch located in a low- or moderate income area must include in its notice to customers the mailing address of the District Licensing Director and a statement that customers may direct comments to the District Licensing Director.

For other branch closings, you can submit a public comment letter regarding the branch closing of a national bank to the OCC. Comments and related communications should be sent to the following address:

Comptroller of the Currency
Licensing
Washington, DC 20219-0001

March 2011