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Question: We are going to reduce our hours of operations at some of our branches. Are we required to put a notification in the newspaper prior to the change? Are there any other requirements for this kind of change?
Answer: There is no longer a regulation pertaining to the reduction of banking hours. You should, however, have this reflected in the minutes of the board of directors, so it will be noted by the bank examiners, and, for the convenience of your customers, you should post a notice in the home office or branches affected. Since there is no longer a regulation about the notice, there is no directive about how far in advance you should post the notice. That is for each bank to determine. Just remember this if for the convenience of your customers. You don't want to take them by surprise. People who regularly visit your bank are the ones you would probably be most concerned about when it comes to a change of hours. A good rule of thumb for these people is that they come into the bank at least once a month. So, a month might be a good notice period. You'll have to judge this for yourself. After all, you know your customers better than anyone.
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