Second National has decided to close one of its less profitable neighborhood branches. Which of the following actions is NOT required of the bank under federal law?
Second National has decided to close one of its less profitable neighborhood branches. Which of the following actions is NOT required of the bank under federal law?
Under federal law, when a bank decides to close a branch, it must publish a notice of the closing in the local newspaper, send a notice to its regulatory agency, and send notices to the branch customers. Posting a notice at the branch itself, however, is typically not a requirement. Therefore, the action that is NOT required of the bank under federal law is posting a notice at the branch.
A is correct