Regulatory relief to help institutions and recovery efforts in areas of Tennessee hard-hit in April’s severe storms, straight-line winds, tornadoes, and flooding were announced Tuesday by the federal bank deposit insurer, which noted this month’s declaration of a federal disaster.
In Tuesday’s Financial Institution Letter (FIL) 24-2025, the Federal Deposit Insurance Corp. (FDIC) said it encourages institutions to work constructively with borrowers experiencing difficulties beyond their control because of damage in affected areas. It said institutions may receive favorable Community Reinvestment Act (CRA) consideration for community development loans, investments, and services in support of disaster recovery; and that it will also consider regulatory relief from certain filing and publishing requirements.
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