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OCC Encourages Institutions to Work With Customers Affected by the Colorado Floods

 

Sept 17 - The Office of the Comptroller of the Currency reminds national banks and federal savings associations of guidance to assist financial institutions and their customers affected by extreme weather, such as the recent flooding in Colorado.

The OCC recognizes the effects of natural disasters on individuals and businesses are often temporary, and that prudent efforts to assist customers in areas affected by the disasters and related problems should not be subject to bank examiner criticism. OCC Bulletin 2012-28 provides supervisory guidance for banks and thrifts responding to disaster conditions in their communities.

The OCC encourages national banks and federal savings associations to consider various alternatives to assist affected customers that may include:

National banks and federal savings associations in need of assistance in dealing with customers affected by the flooding should contact the OCC.



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