👑 27 October 2023: DAILYMAIL > When a bank closes a branch, it must notify the OCC. - #Banks

 By TILLY ARMSTRONG ASSISTANT CONSUMER EDITOR FOR DAILYMAIL.COM
UPDATED: 16:12 EDT, 27 October 2023

In a statement to DailyMail.com in August, a spokesperson said: 'The OCC understands the importance of bank branches and is committed to supporting access to banking services in all communities.'

They also noted that although banks and credit unions need to notify their 'primary regulator of closures', the statute that requires them to do so does not allow the regulator to object to the closure. 

It also noted that the OCC does not regulate all banks in the US and that companies have some freedom as to when a branch is closed after making the filing.

'Typically, notices appear when the transactions are effective, although branch closings usually appear when the OCC receives notice of the proposed closing,' the spokesperson added.
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