The Federal Deposit Insurance Corporation has issued supervisory guidance setting out regulatory relief measures for FDIC-supervised financial institutions operating in Arkansas counties impacted by severe storms and tornadoes, and it is encouraging banks to work constructively with affected borrowers. The relief applies to institutions in Greene, Hot Spring, Independence, Izard, Jackson, Lawrence, Randolph, Sharp, and Stone Counties, following a Federal Emergency Management Agency federal disaster declaration for selected areas. The FDIC stated it will not criticize prudent loan term adjustments, extensions, or restructurings that are consistent with safe-and-sound banking, and noted that qualifying disaster-recovery lending, investments, and services may receive favorable Community Reinvestment Act consideration. It also signaled flexibility on certain reporting and publishing requirements, asked institutions expecting delays in filing Reports of Income and Condition or other reports to notify the Dallas Regional Office, and said it will expedite requests to operate temporary banking facilities, with telephone notice generally sufficient initially. For principal dwelling-secured loans, the release highlights Regulation Z’s option for consumers to waive or modify the three-day rescission period in a bona fide personal financial emergency, subject to the required consumer statement.
Federal Deposit Insurance Corporation 2025-06-02
Federal Deposit Insurance Corporation provides supervisory relief and encourages loan accommodations for Arkansas institutions affected by severe storms and tornadoes
The FDIC has issued guidance offering regulatory relief for institutions in Arkansas counties hit by storms and tornadoes. It encourages engagement with borrowers and allows flexibility in loan adjustments, disaster-recovery lending, and reporting. It also highlights the option for consumers to waive the three-day rescission period under Regulation Z in emergencies.