Coronavirus (COVID-19) Information for Bankers and Consumers
The FDIC is working with federal and state banking agencies, as well as, financial institutions to consider all reasonable and prudent steps to assist customers in communities affected by the Coronavirus (COVID-19). In addition, the agency is monitoring information issued by international and U.S. health organizations. Regulatory agencies have encouraged financial institutions to work with customers impacted by the Coronavirus. Customers experiencing difficulties beyond their control should work directly with their financial institutions.
Latest Information from the FDIC – How We’re Helping
- Receiving IRS Economic Impact Payments
The FDIC is committed to supporting Americans during the coronavirus (COVID-19) health crisis. You will receive an economic impact payment electronically if you qualify and the Internal Revenue Service (IRS) has your bank account information from a recent tax filing. If your account information is not on file with the IRS, you can provide it to the IRS to receive your payment via direct deposit by following instructions for non-filers. But If you do not have an account, many banks offer ways to open one remotely – online or through a mobile app – without going to a bank branch. As long as you have a computer or a smartphone with access to the Internet, it is easy to get started. Learn more about Economic Impact Payments.
- Beware of Scams
If you receive calls, emails, or other communications claiming to be from the FDIC or another federal agency, and offering COVID-19 related grants or payments in exchange for personal financial information, or a charge of any kind, please do not respond. These are scams. Additional guidance on how to report COVID-19 scams is available from the U.S. Department of Treasury website. You can also read the FDIC’s Special Edition of FDIC Consumer News for COVID-19.
- COVID-19 Information for Small Business Lenders
The FDIC worked with the Small Business Administration (SBA) to help ensure that FDIC-supervised banks had the information they needed to become certified by the SBA to make small business loans through programs under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Small Business Administration (SBA) has completed the latest phase of the Paycheck Protection Program based on available funding. Visit Information for Small Business Lenders.
Frequently Asked Questions for those Impacted by Coronavirus Disease 2019 (COVID-19):
Information for use by bank customers:
- FDIC Consumer News: COVID-19 and Your Financial Health - April 2, 2020
- Press Release: FDIC Chairman Addresses FSOC; Underscores Banks and Deposits Remain Safe - March 26, 2020
- Press Release: FDIC: Insured Bank Deposits are Safe; Beware of Potential Scams Using the Agency's Name - March 18, 2020
- Press Release: Agencies Encourage Financial Institutions to Meet Financial Needs of Customers and Members Affected by Coronavirus - March 9, 2020
Information for use by financial institutions:
- Press Release - Regulators Temporarily Change the Supplementary Leverage Ratio to Increase Banking Organizations' Ability to Support Credit to Households and Businesses In Light of the Coronavirus Response - May 15, 2020
- Financial Institution Letter - Temporary Exclusion of U.S. Treasury Securities and Deposits at Federal Reserve Banks from the Supplementary Leverage Ratio for Depository Institutions - May 15, 2020
- Financial Institution Letter: Proposed Rulemaking to Mitigate the Deposit Insurance Assessment Effects of Participation in the Paycheck Protection Program (PPP), the PPP Lending Facility, and the Money Market Mutual Fund Liquidity Facility - May 12, 2020
If you don't have a bank account, find out the quickest and most secure way to get your Economic Impact Payment.
- Centers for Disease Control (CDC) for Coronavirus
- USA.gov Coronavirus Website
- Department of Health and Human Services (DHHS)
- Department of Labor Occupational Safety and Health Administration (OSHA)
- Business Pandemic Influenza Planning Checklist (DHSS) Checklist
- World Health Organization (WHO) Coronavirus Outbreak
- Ready.gov Pandemic Webpage
- U.S. Department of Veterans Affairs (VA)
- Department of Agriculture (USDA)
- Department of State Travel Advisories
- U.S. Agency for International Development (USAID)
- Coronavirus disease 2019 (COVID-19): What do Older Adults and People with Disabilities Need to Know?
- Money Smart for Older Adults Resource Guide
Helpful FDIC Articles
- Disaster Recovery and Your Money: A Basic To-Do List (FDIC Consumer News)
- When People Face Tough Times, Crooks Try to Profit (FDIC Consumer News)