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Financial Institution Letters

Hurricane Katrina
Assistance for Displaced Customers
FIL-89-2005
September 2, 2005


Summary: The federal banking and thrift regulatory agencies are encouraging institutions to consider all reasonable and prudent steps to assist customers in areas damaged by Hurricane Katrina.

Highlights:
  • Agencies are working with other state agencies and industry groups to identify customer needs and monitor institutions’ restoration progress.
  • Waiving ATM, overdraft, and late fees; extending repayment terms; restructuring existing loans or easing terms for new loans; deferring payments; easing credit card limits; and easing restrictions on check cashing can contribute to the health of the community and serve the long-term interests of the institution.
  • Agencies are encouraging institutions to be reasonable in their approach to verifying the identity of displaced individuals.

Distribution:
FDIC-Supervised Banks (Commercial and Savings) in the Atlanta and Dallas Regions

Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer
Chief Financial Officer/Cashier

Related Topics:
Deposits
Lending

Attachment:
Interagency press release: “Agencies Encourage Insured Depository Institution to Assist Displaced Customers”

Contact:
Assistant Regional Director Gale Simons-Poole at gsimons-poole@fdic.gov or (678) 916-2200 (Alabama);

Assistant Regional Director Cheryl Couch at ccouch@fdic.gov or (972) 761-2070 (Louisiana);

Assistant Regional Director Patricia Lenfert at plenfert@fdic.gov or (901) 821-5203 (Mississippi)

Printable Format:
FIL-89-2005 - PDF 39k (PDF Help)

Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2005/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).




Last Updated 9/02/2005 communications@fdic.gov