CT HB06454

Connecticut banks must submit closure notices to the state banking commissioner and municipal chief elected official at least 90 days before closing any branch or limited branch, including detailed reasons, supporting data, and the bank's intended use of the property after closure.

Banks must notify customers of proposed closures by posting a conspicuous notice on branch premises for at least 30 days before closure and including notice in regular account statements or separate mailing by the start of the 90-day notice period.

If a branch closure is proposed in a low or moderate-income area, the notice must include the Department of Banking's mailing address and inform customers they may submit comments about the closure.

The Department of Banking must hold a meeting with community leaders and other stakeholders if a resident of a low or moderate-income area submits a written request with specific reasons about adverse banking service effects and the department deems the request non-frivolous.

Mobile branch closures require 30 days' notice to the commissioner with detailed reasons and supporting information, and banks must notify the commissioner before closing any predetermined mobile branch location.