Proctor, a variant of procurator, is a person who takes charge of, or acts for, another. The word proctor is frequently used to describe someone who oversees an examination or dormitory. The title is used in England in three principal contexts: In law, a proctor is an attorney or solicitor acting in some courts. In religion, a proctor represents the clergy in Church of England dioceses. In education, a proctor is the name of university officials in certain universities, or a supervisor or invigilator during an exam.
Within weeks, thirty-six other states held their own bank holidays in an attempt to stem the bank runs. The banking system was on the verge of collapse. On March 4, Delaware became the 48th and last state to close its banks. Following his inauguration on March 4, 1933, President Franklin Roosevelt set out to rebuild confidence in the nation's banking system. On March 6 he declared a four-day banking holiday that kept all banks shut until Congress could act. A draft law prepared by the Treasury staff during Herbert Hoover's administration, was passed on March 9, 1933.
The length of time your money is held depends largely on bank policy. Some banks will hold funds for as little as one business day, while others will hold funds for longer. How long a hold is in effect also depends on the source of the check. An out-of-state personal check might be held for three or four days, while a check issued by the U.S. Treasury might have no hold at all. In some cases, depending on how large the check is, and who issued it, the hold can be as long as five to 10 business days. For banks, the hold is a way of limiting risk. The bank is paying money to you, and acting in good faith on the assumption that there is money in the account the check is drawn on. Your bank has to request that the other bank transfer the funds, based on the information in the check. If there isnât money in the other account, your bank loses out if it pays you and you ...