Consumer & Business Response

Disasters are unpredictable and can be devastating to a community. But there is a lot your bank can do to help prepare your customers for these events.

Help Consumers Prepare for a Natural Disaster

Disasters are unpredictable and can be devastating to a community. But there is a lot your bank can do to help prepare your customers for these events.

Share these tips:

  • Store important documents such as proof of identity, property ownership, insurance policies, bank and investment account information, and three years of tax returns in a bank safe-deposit box. Encase these items in plastic bags to prevent moisture.
  • Prepare additional copies of critical documents such as birth certificates, adoption papers, marriage licenses and the deed to your home for safekeeping and inform a trustee, relative or attorney of their location.
  • Print out key contact information for executors, trustees and guardians and store it in a secure location, either in your safe-deposit box or with a close relative.
  • Inventory personal and household valuables (take photos and keep receipts) to help evaluate replacement costs.
  • Include surplus cash, preferably small bills, in your home emergency kit. The kit should also include a three-day supply of food and water, a first aid kit, can opener, radio, flashlights and batteries.
  • Create digital copies, which can serve as a supplement or backup to paper documents.  Scanned or electronic documents can be uploaded with secure online backup services.
  • Contact your insurance agent or visit the Federal Emergency Management Agency’s website to determine if a flood insurance policy is right for you.

ICBA testifies on need for simple PPP forgiveness

Sep. 02, 2021

ICBA told Congress that the Paycheck Protection Program needs a simple, easy-to-use forgiveness process to ensure the program works as intended for small-business borrowers.

Hearing: Testifying before the House Small Business Committee, ICBA Chairman Robert Fisher said community banks support a forgiveness process that is minimally burdensome for borrowers so they can focus on preserving their businesses.

Testimony: The president and CEO of Tioga State Bank in Spencer, N.Y., said that while ICBA appreciates the SBA’s creation of its Direct Borrower Forgiveness Portal to streamline forgiveness for borrowers with smaller loans, the agency must respect lenders that choose not to use the portal.

Portal: Fisher noted that PPP lenders this week received an SBA email encouraging lenders to opt into the direct forgiveness portal to avoid audits. “We resent the coercive tone of this email,” Fisher said.

Background: In a national news release, ICBA noted that community banks:

  • Accounted for nearly 60 percent of the PPP’s total loan amount.
  • Led the banking industry in lending to minority-, women-, and veteran-owned businesses.
  • Served rural, suburban, and urban communities while saving jobs in critical sectors.