The FDIC, Consumer Financial Protection Bureau, the Federal Reserve Board, the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC) (collectively, "the agencies") recognize the potential for the Coronavirus Disease (referred to as COVID-19) to adversely affect financial institution customers. The agencies are issuing a statement to encourage financial institutions to offer responsible small-dollar loans to consumers and small businesses.
Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised institutions.
Chief Executive Officer
Chief Lending Officer
Chief Compliance Officer
Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).