National banks and federal savings institutions may close in areas affected by the fires in the Los Angeles area, the national bank regulator said Wednesday.
The Office of the Comptroller of the Currency (OCC) said, by its proclamation, it expects that only those bank offices directly affected by potentially unsafe conditions will close. The OCC said those offices “should make every effort to reopen as quickly as possible to address the banking needs of their customers.”
The agency advised banks to review its bulletin 2012-28, “Supervisory Guidance on Natural Disasters and Other Emergency Conditions,” which it said provides guidance on actions bankers can consider taking when their bank or savings association operates or has customers in areas affected by a natural disaster or other emergency.
OCC Allows National Banks and Federal Savings Associations Affected by California Wildfires to Close
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