Disaster relief deployed for banks affected by WV, KY storms

February 28, 2025 FDIC 0

Damage from severe weather in West Virginia and Kentucky has triggered the deployment of regulatory relief from the federal bank deposit insurer.

Two Financial Institution Letters (FILs), one Friday and the other Thursday, from the Federal Deposit Insurance Corp. (FDIC) lay out the steps banks are encouraged to take to help facilitate recovery in affected areas. The letters focus on damage from events in West Virginia on Feb. 15 and in Kentucky on Feb. 14, “and continuing”: severe storms, straight-line winds, flooding, landslides, and mudslides.

Among the relief measures the FDIC offers is favorable Community Reinvestment Act (CRA) consideration for community development loans, investments, and services in support of disaster recovery.

Guidance to Help Financial Institutions and Facilitate Recovery in Areas of West Virginia Affected by Severe Storms, Straight-line Winds, Flooding, Landslides, and Mudslide (FIL-3-2025)

Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Kentucky Affected by Severe Storms, Straight-line Winds, Flooding, Landslides, and Mudslides (FIL-2-2025)

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Disaster relief deployed for banks affected by WV, KY storms

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