Regulatory Alerts2024-09-27 | FIL-69-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Vermont Affected by Severe Storms, Flooding, Landslides, and Mudslides
The Federal Deposit Insurance Corporation (FDIC) issued FIL-69-2024 to provide regulatory relief and facilitate disaster recovery for financial institutions in Vermont’s Caledonia, Essex, and Orleans counties following severe storms, flooding, landslides, and mudslides. The agency encourages depository institutions to constructively adjust existing loan terms, restructure debt, and monitor municipal investments without examiner criticism while granting favorable Community Reinvestment Act consideration for related community development activities. Affected institutions may also request delayed filing and publishing deadlines, waive three-day rescission periods for principal dwelling loans, and operate expedited temporary banking facilities through the New York Regional Office.