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Financial Services Law Insights and Observations

OCC allows institutions affected by severe weather in Central Plains and Midwest to close

Federal Issues OCC Disaster Relief

Federal Issues

On March 19, the OCC issued a proclamation permitting OCC-regulated institutions, at their discretion, to close offices affected by severe weather in the Central Plains and Midwest regions of the U.S. “for as long as deemed necessary for bank operation or public safety.” In issuing the proclamation, the OCC noted that only bank offices directly affected by potentially unsafe conditions should close, and that institutions should make every effort to reopen as quickly as possible to address customers’ banking needs. The proclamation directs institutions to OCC Bulletin 2012-28 for further guidance on natural disasters and other emergency conditions.

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