Regulatory Alerts2024-08-23 | FIL-59-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Vermont Affected by a Severe Storm, Flooding, Landslides, and Mudslides
The Federal Deposit Insurance Corporation (FDIC) issued regulatory relief to assist Vermont financial institutions and borrowers impacted by the July 2024 severe storm, flooding, landslides, and mudslides. The agency encourages constructive loan restructuring and repayment term extensions while granting favorable Community Reinvestment Act consideration for related community development activities. Affected institutions may also request extensions for income and condition reports, expedited approval for temporary banking facilities, and relief from certain publishing requirements without examiner criticism.
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