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Financial Services Law Insights and Observations

OCC allows institutions in Florida affected by Hurricane Idalia to temporarily close

Bank Regulatory Federal Issues Disaster Relief Florida Consumer Finance

On August 29, the OCC issued a proclamation permitting OCC-regulated institutions, at their discretion, to close offices in areas of Florida affected by Hurricane Idalia “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 banks 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.

Find continuing InfoBytes coverage on disaster relief here.