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Financial Services Law Insights and Observations

Montana regulator permits state banks, credit unions to close

State Issues Covid-19 Montana Bank Compliance

State Issues

On March 12, the Montana Division of Banking and Financial Institutions issued a proclamation permitting state-chartered banks and credit unions located in Montana to close any office to protect the health and safety of employees and customers. The proclamation orders all institutions to develop and implement plans to continue providing essential financial services to their customers via ATMs, mobile applications, or drive through windows. Additionally, the proclamation orders all institutions unable to continue providing essential services to immediately notify the Division.

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