Regulatory Alerts2024-06-28 | FIL-37-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of New Mexico Affected by South Fork Fire and Salt Fire
The Federal Deposit Insurance Corporation issued regulatory relief measures to assist New Mexico financial institutions and borrowers impacted by the South Fork and Salt Fires. The guidance permits flexible loan restructuring, favorable Community Reinvestment Act consideration, and delayed reporting or publishing requirements without examiner criticism. Institutions may also expedite temporary facility operations and waive three-day rescission periods for consumer loans, while the FDIC evaluates disaster-related filing delays on a case-by-case basis.
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