Regulatory Alerts2024-05-20 | FIL-25-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Massachusetts Affected by Severe Storms and Flooding
The FDIC has issued regulatory relief and supervisory guidance to assist Massachusetts financial institutions in Bristol and Worcester counties recovering from severe September 2023 storms and flooding. The agency encourages banks to restructure loans, extend repayment terms, and make disaster-related community development investments without facing examiner criticism or losing favorable Community Reinvestment Act ratings. Additionally, the FDIC will waive or delay certain filing and publishing requirements for affected institutions while expediting approvals for temporary banking facilities.
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