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.

Agencies address supervisory practices for institutions affected by Hurricane Idalia

Sep. 05, 2023

Federal and state financial regulators issued a joint statement saying they recognize the serious impact of Hurricane Idalia on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision.

Interagency Statement: The agencies said they:

  • Encourage financial institutions to work constructively with borrowers in communities affected by Hurricane Idalia and to monitor municipal securities and loans affected by the hurricane.

  • Will expedite requests to operate temporary facilities.

  • Understand the impact on compliance with publishing and other requirements.

  • Do not expect to take supervisory action against institutions that take reasonable and prudent steps to comply with the agencies’ regulatory reporting requirements.

  • Will grant Community Reinvestment Act consideration for actions supporting federally designated disaster areas.

FDIC Statement: The FDIC separately announced regulatory relief to facilitate recovery in areas of Florida affected by Hurricane Idalia. The agency is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe conditions.