The FDIC released guidance today with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Montana affected by severe weather. The agency encouraged banks to work constructively with borrowers experiencing difficulties due to the severe weather, including extending repayment terms, restructuring existing loans or easing terms for new loans. The agency also said it would consider relief from certain filing and publishing requirements.
Following devastating floods that struck Montana communities in and around Yellowstone National Park in June, the ABA Foundation partnered with the Montana Bankers Association to support relief efforts. The ABA Foundation is currently collecting donations from across the country to support the Montana Community Foundation. More than 400 homes were destroyed in the June flooding, and more than 10,000 were evacuated. One hundred percent of the funds raised through ABA Foundation’s Disaster Relief Program will go to the Montana Community Foundation to support individuals and businesses recover from the disaster and the economic fallout.