Georgia Dept. of Banking and Finance issues closing guidance

State Issues Georgia Covid-19

The Georgia Department of Banking and Finance issued a statement to Georgia state-chartered banks and credit unions regarding emergency closing notification procedures. The statement provides that Georgia state-chartered financial institutions have the discretion to close business operations in the event of a natural disaster or other emergency, including situations where an emergency is imminent. The Deputy Commissioner for Supervision must be notified in the event of a main office and/or branch closure, or an alteration of the normal delivery of banking services.