Regulatory relief for financial institutions in areas of Washington affected by August’s wildfires was announced Monday in a Financial Institution Letter (FIL) from the Federal Deposit Insurance Corp. (FDIC).
The letter follows the Feb. 15 declaration by the Federal Emergency Management Agency (FEMA) of a federal disaster for selected areas affected.
The FDIC said the wildfires caused significant property damage from Aug. 18-25 of last year.
The relief offered includes, among other things, possible Community Reinvestment Act (CRA) consideration for community development loans, investments, and services in support of disaster recovery, the agency said.