Regulatory Alerts2024-06-21 | FIL-35-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oklahoma Affected by Severe Storms, Straight-line Winds, Tornadoes, and Flooding
The Federal Deposit Insurance Corporation issued regulatory relief measures to assist FDIC-supervised financial institutions in Oklahoma affected by severe storms, straight-line winds, tornadoes, and flooding. Institutions may extend loan repayment terms, restructure existing loans, and receive favorable Community Reinvestment Act consideration without examiner criticism while monitoring impacted municipal securities. The FDIC will also delay certain filing and publishing requirements, expedite temporary banking facility requests, and allow consumers to modify rescission periods for principal dwelling-secured loans.
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