Federal Deposit Insurance Corporation announces supervisory and reporting relief for FDIC-supervised institutions in Oklahoma wildfire and straight-line wind disaster areas

The Federal Deposit Insurance Corporation issued guidance setting out supervisory steps to provide regulatory relief and support recovery for FDIC-supervised financial institutions and their customers in parts of Oklahoma affected by wildfires and straight-line winds. The measures cover Cleveland, Creek, Lincoln, Logan, Oklahoma, Pawnee, and Payne Counties and encourage banks to work constructively with affected borrowers, including extending repayment terms, restructuring existing loans, or easing terms for new loans consistent with safe-and-sound practices. The FDIC indicated it will not criticize prudent loan accommodations, and noted that community development loans, investments, and services supporting disaster recovery may receive favorable Community Reinvestment Act consideration in eligible disaster areas. It also flagged potential flexibility around certain reporting, filing, and publishing requirements where delays or compliance challenges are disaster-related, and said the Dallas Regional Office will expedite requests to operate temporary banking facilities, with telephone notice typically sufficient initially; for principal dwelling-secured loans, it highlighted Regulation Z’s emergency option to waive or modify the three-day rescission period with a consumer statement meeting the rule’s requirements.