Maintaining A Banking Office At The Same Site Where Another Bank Has An ATM
Banks are prohibited from occupying the same office or suite of offices or any office directly connected by doors or other openings in partitions with the office or suite of offices used or occupied by another bank, whether state or federally-chartered, under Mass. Gen. Laws chapter 167C § 5. However, banks may occupy a portion of the same building or hold certain meetings in the same office or suite of offices occupied by any other bank. It is the position of the Division of Banks that the provisions of Mass. Gen. Laws chapter 167C § 5 are not triggered by maintaining an ATM at the same site occupied by a state-chartered bank office because ATM's are governed by Mass. Gen. Laws chapter 167B while branch offices are governed by Mass. Gen. Laws chapter 167C.