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Midwest Floods Update: Regulators Offer Assistance to Institutions

At least one community bank was forced to temporarily close three branches, and one federal credit union initiated its continuity plan. The Office of the Comptroller of the Currency issued a proclamation allowing national bank offices affected by the severe weather and flooding in the Midwest to close at their discretion. Financial institutions have been affected in the worst-hit areas, including Cedar Rapids, Iowa, where the rising Cedar River forced residents to flee their homes and businesses. The National Credit Union Administration (NCUA) also activated its disaster assistance program in Indiana and Iowa.”]

Source: https://www.cuinfosecurity.com/midwest-floods-update-regulators-offer-assistance-to-institutions-a-885

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