Florida Office of Financial Regulation issues closure guidance

State Issues Florida Covid-19

On March 12, the Florida Office of Financial Regulation (OFR) issued guidance to executives of financial institutions. The guidance directs executive officers of financial institutions to determine whether an emergency exists requiring closure or modification of the operation of a financial institution for more than 48 hours. The guidance provides that the OFR will expeditiously process any requests for approval to modify or close any departments, sections, functions, offices, or facilities.