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FDIC Regulatory Relief for Illinois Banks – IBA Compliance Connection

FDIC Regulatory Relief for Illinois Banks

Last week, the FDIC released guidance for Illinois banks affected by severe storms and flooding during the period of April 16 to May 5, 2013. The affected areas include Cook, DeKalb, DuPage, Fulton, Grundy, Kane, Kendall, Lake, LaSalle, McHenry, and Will counties. Among other things, the guidance encourages affected banks to work with borrowers in communities under stress, emphasizes the CRA consideration given to investments in federal disaster areas, and instructs banks that may have delayed reports (including CALL reports) to notify the Chicago Regional Office.