Regulatory Alerts2024-11-15 | FIL-80-2024Added · Updated
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Montana Affected by a Severe Storm and Straight-line Winds
The Federal Deposit Insurance Corporation (FDIC) issued regulatory relief measures to assist supervised financial institutions and borrowers in Montana’s Crow Indian Reservation following a severe storm and straight-line winds. Banks may extend loan terms, restructure debt, and stabilize municipal investments without examiner criticism while receiving favorable Community Reinvestment Act consideration for related community development activities. The FDIC will also grant extensions for income and condition reports, waive certain publishing requirements for branch closures or relocations, and expedite approvals for temporary banking facilities.
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