§ 1831r–1.
(d)
Branch closures in interstate banking or branching operations
(1)
Notice requirements
In the case of an interstate bank which proposes to close any branch in a low- or moderate-income area, the notice required under subsection (b)(2) shall contain the mailing address of the appropriate Federal banking agency and a statement that comments on the proposed closing of such branch may be mailed to such agency.
(2)
Action required by appropriate Federal banking agency
If, in the case of a branch referred to in paragraph (1)—
(A)
a person from the area in which such branch is located—
(i)
submits a written request relating to the closing of such branch to the appropriate Federal banking agency; and
(ii)
includes a statement of specific reasons for the request, including a discussion of the adverse effect of such closing on the availability of banking services in the area affected by the closing of the branch; and
(B)
the agency concludes that the request is not frivolous,
the agency shall consult with community leaders in the affected area and convene a meeting of representatives of the agency and other interested depository institution regulatory agencies with community leaders in the affected area and such other individuals, organizations, and depository institutions (as defined in
section 461(b)(1)(A) of this title) as the agency may determine, in the discretion of the agency, to be appropriate, to explore the feasibility of obtaining adequate alternative facilities and services for the affected area, including the establishment of a new branch by another depository institution, the chartering of a new depository institution, or the establishment of a community development credit union, following the closing of the branch.
(3)
No effect on closing
No action by the appropriate Federal banking agency under paragraph (2) shall affect the authority of an interstate bank to close a branch (including the timing of such closing) if the requirements of subsections (a) and (b) have been met by such bank with respect to the branch being closed.
(4)
Definitions
For purposes of this subsection, the following definitions shall apply:
(A)
Interstate bank defined
The term “interstate bank” means a bank which maintains branches in more than 1 State.
(B)
Low- or moderate-income area
The term “low- or moderate-income area” means a census tract for which the median family income is—
(i)
less than 80 percent of the median family income for the metropolitan statistical area (as designated by the Director of the Office of Management and Budget) in which the census tract is located; or
(ii)
in the case of a census tract which is not located in a metropolitan statistical area, less than 80 percent of the median family income for the State in which the census tract is located, as determined without taking into account family income in metropolitan statistical areas in such State.
(e)
Scope of application
This section shall not apply with respect to—
(1)
an automated teller machine;
(2)
the relocation of a branch or consolidation of one or more branches into another branch, if the relocation or consolidation—
(A)
occurs within the immediate neighborhood; and
(B)
does not substantially affect the nature of the business or customers served; or
(3)
a branch that is closed in connection with—
(A)
an emergency acquisition under—
([Sept. 21, 1950, ch. 967, § 2][42], formerly § 2[39], as added [Pub. L. 102–242, title II, § 228], Dec. 19, 1991, [105 Stat. 2308]; renumbered § 2[42], [Pub. L. 102–550, title XVI, § 1602(a)], Oct. 28, 1992, [106 Stat. 4078]; amended [Pub. L. 103–328, title I, § 106], Sept. 29, 1994, [108 Stat. 2357]; [Pub. L. 104–208, div. A, title II, § 2213], Sept. 30, 1996, [110 Stat. 3009–411].)
