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Lehman Brothers Holdings Inc. (LBHI) bankruptcy and Merrill Lynch's acquisition by Bank of America will have a huge impact on India as both companies have a strong Indian connection.
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Gail S
If a U.S. Bank can't be closed for more than three consecutive days, why don't NV banks comply with this?
I've just learned that Nevada State Bank is closed for four consecutive days for the Thanksgiving holiday. Why don't they have to comply with the law of not being closed for more than three consecutive days? Additional Details I've since spoken with the Banking Commission. Evidently, they can get around this because the Fri. after Thanksgiving is a "State Holiday" and banks are allowed to be closed on weekends and holidays. As far as "Family Day" is concerned, it's up to the Bank whether or not to remain open on a "State" holiday. However, no one seems for sure to know about the "three consecutive day" rule from back in the depression.
I did not find any code stating a maximum number of days closed for any bank.
Could you provide a reference?
jennifer_weisz
Is it a credit union? Sometimes they go under the alias of "bank".
If not, maybe it is State mandated. I've heard this law but do not know if it is Federal.
GunnyC
Two things-one they might not be a federally insured bank and two there is ways around the three day rule-have some of the employees come in do process the on line, ATM and other tape records and send that tape to the Federal Reserve. When we had an ice storm on the fourth day my daughter had to go to the bank and process those records and submit in order to be in compliance with the law. Really isn't the bank has to be physically open for a customer to go through the doors but they have to process the information and provide to the Federal Reserve; can't hold that information more then three days.
bettyrubleinspurs
Friday is a state holiday in Nevada. It is Family Day (the day after Thanksgiving). You might try asking the Nevada state department's website for a more complete answer.
ThinkClearWater
it's different for each state
Pastor Art
Why not call them and ask them before 5 pm, when they go home to be with their famlies for the next 4 days?
Pastor Art
tdale45m
Check and see if they are Federally insured. I bet they are not
r2mm
Could be because they are a state regulated bank, not a federal bank.
src50
If they are a state-chartered bank, different rules may apply.
Me
if they are not under ficca fica whatever that thing that insures banks is called the rules do not apply.
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