Regulatory Alerts2020-03-12
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Alabama State Banking Department Guidance for Banks on Pandemic Planning and Expectations
The Alabama State Banking Department issued this memorandum to outline expectations for state-chartered banks regarding coronavirus pandemic planning and operational continuity. Banks are required to review and update business continuity plans, coordinate with technology partners, and notify the Department of any pandemic-related disruptions such as staffing issues or branch closures. In response, the Department will limit in-person contact and conduct regulatory examinations offsite, relying on electronic communication to maintain essential functions.
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