Hurricane Irma prompts statements on closings, precautions

Federal financial institution regulators are gearing up for the approach of Hurricane Irma, which may strike Florida or parts of the Gulf Coast as soon as this weekend.

The Office of the Comptroller of the Currency (OCC) issued a proclamation today allowing national banks and federal savings associations affected by Hurricane Irma to close. OCC said that expects only those bank offices directly affected by the extreme weather will close, and that those offices should make every effort to reopen as quickly as possible to address the banking needs of their customers.

Meanwhile, the National Credit Union Administration (NCUA) is advising credit unions in the path of the storm to take precautions as it bears down. The agency stated in a release that it is tracking Hurricane Irma closely, and will monitor the conditions of credit unions in the storm’s path. “The agency will be ready to assist credit unions with maintaining or restoring operations, if necessary,” NCUA stated. NCUA also noted that it maintains a hurricane and disaster information page on its website with more material on preparedness and staying safe.

OCC Bulletin 2012-28, Supervisory Guidance on Natural Disasters and Other Emergency Conditions

NCUA hurricane and disaster information page