17 Jul OCC: National Banks and Federal Savings Associations Affected by Severe Weather Along the Gulf Coast Allowed to Close
OCC: National Banks and Federal Savings Associations Affected by Severe Weather Along the Gulf Coast Allowed to Close
July 12, 2019
WASHINGTON — The Office of the Comptroller of the Currency today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks at their discretion to close offices affected by severe weather along the Gulf Coast.
In issuing the proclamation, the OCC expects that only those bank offices directly affected by potentially unsafe conditions will close. Those offices should make every effort to reopen as quickly as possible to address the banking needs of their customers.
OCC Bulletin 2012-28 Supervisory Guidance on Natural Disasters and Other Emergency Conditions provides guidance on actions bankers could consider implementing when their bank or savings association operates or has customers in areas affected by a natural disaster or other emergency.