NOTICE OF BRANCH CLOSURE.

SEC. 228. NOTICE OF BRANCH CLOSURE. The Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is amended by adding after section 38 (as added by section 131 of this Act) the following new section: “SEC. 39. NOTICE OF BRANCH CLOSURE. “(a) Notice to Appropriate Federal Banking Agency.— “(1) In general.— An insured depository institution which proposes to close any branch shall submit a notice of the proposed closing to the appropriate Federal banking agency not later than the first day of the 90-day period ending on the date proposed for the closing. “(2) Contents of notice.— A notice under paragraph (1) shall include— “(A) a detailed statement of the reasons for the decision to close the branch; and “(B) statistical or other information in support of such reasons. “(b) Notice to Customers.— “(1) In general.— An insured depository institution which proposes to close a branch shall provide notice of the proposed closing to its customers. “(2) Contents of notice.— Notice under paragraph (1) shall consist of— “(A) posting of a notice in a conspicuous manner on the premises of the branch proposed to be closed during not less than the 30-day period ending on the date proposed for that closing; and “(B) inclusion of a notice in— “(i) at least one of any regular account statements mailed to customers of the branch proposed to be closed, or “(ii) in a separate mailing, by not later than the beginning of the 90-day period ending on the date proposed for that closing. “(c) Adoption of Policies.— Each insured depository institution shall adopt policies for closings of branches of the institution.”.