Catastrophic flooding in Texas has prompted the national bank regulator to allow banks in the affected area to close offices, the agency said Monday.
The Office of the Comptroller of the Currency (OCC) said it expects that only those bank offices directly affected by potentially unsafe conditions will close. They should make every effort to reopen as quickly as possible to address the banking needs of their customers, the OCC said.
According to the Texas Division of Emergency Management (TDEM), widespread flooding beginning July 2 affected portions of the Concho Valley, Hill Country, and Central Texas regions. Heavy rainfall and flash flooding continued across Central Texas and the Hill Country through Monday, the agency said.
OCC Allows National Banks and Federal Savings Associations in Texas Affected by Flooding to Close