OCC allows institutions affected by Vermont flooding to temporarily close

Federal Issues OCC Disaster Relief Vermont Consumer Finance

On July 11, the OCC issued a proclamation permitting OCC-regulated institutions to close offices, at their discretion, affected by severe flooding in Vermont “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 actions they should take in response to natural disasters and other emergency conditions.

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