The Office of Thrift Supervision has proposed guidelines for branch closings by savings and loan associations.

The policy clarifies provisions in the Federal Deposit Insurance Corp. Improvement Act of 1991 that require thrifts and banks to notify customers and regulators at least 90 days before closing a branch office.

The law also requires thrifts and banks to post a notice at the branch at least 30 days prior to closing and to write a policy for branch closings.

The OTS proposal was published in the Federal Register and is open for a 60-day comment period.

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