Regulatory Alerts2024-03-26 | FIL-13-2024Added · Updated
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Maine Affected by Severe Storms and Flooding
The Federal Deposit Insurance Corporation (FDIC) issued regulatory relief measures to assist supervised financial institutions operating in Maine counties severely impacted by recent storms and flooding. Institutions may extend loan repayment terms, restructure existing loans, and receive favorable Community Reinvestment Act consideration without examiner criticism while monitoring affected municipal investments. The FDIC will also grant extensions for income and condition reports, expedite requests for temporary banking facilities, and waive certain publishing requirements to ensure continuous community service delivery.
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