As terrible as banks are (and believe me I KNOW) nothing comes close to how North Carolina handles insurance rate hikes. North Carolina requests an insurance rate hike and then it goes through a long process for approval (I'll leave out the specifics). In the meantime, North Carolina insurance companies CHARGE THE RATE INCREASE to the insureds. They POCKET The money while the approval process is still in progress. They get to make interest on the money, etc. If the rate is denied or a lower rate is implemented, then the insurance companies have to rebate the customers (if they can locate them). However, in the meantime, they have had the use of the customer's money for MONTHS while the rate increase was being processed for approval/disapproval. To me, that should be illegal.


>>
>>I work for a bank and we do it slightly different. We substitute days so that we observe:
>>
>>New Years Day
>>President's Day
>>Good Friday
>>Memorial Day
>>Independence Day
>>Labor Day
>>Thanksgiving AND Friday afterwards 24th and the 25th
>>Christmans and the day afterwards 25th and the 26th
>>
>>As long as 10 days are observed, it is allowed by BB&T. The parent corporation observes the standard holidays I listed above with no substitutions.
>
>In UK public holidays are called "Bank Holidays". Perhaps it was banks that standardized the holidays. Trouble is, they don't stop charging us interest on a bank holiday :-)