Regulatory Alerts2024-06-24 | FIL-36-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Florida Affected by Severe Storms, Straight-line Winds, and Tornadoes
The Federal Deposit Insurance Corporation (FDIC) issued this guidance to provide regulatory relief and facilitate recovery for FDIC-supervised financial institutions in Florida’s storm-affected areas, primarily Leon County. The agency encourages constructive lending practices, including loan term extensions and restructurings, while granting favorable Community Reinvestment Act consideration for disaster-related community development activities. Institutions may also benefit from expedited processing for temporary banking facilities, relaxed publishing and reporting deadlines, and regulatory flexibility regarding consumer rescission periods and troubled debt restructurings.
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