OCC allows banks in Alaska, Puerto Rico to close after storms

The Office of the Comptroller of the Currency will allow national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas affected by severe storms in Alaska and Puerto Rico, according to agency statements. Alaska was hit by the remnants of Typhoon Merbok over the weekend, causing devastating flooding in some coastal communities. Hurricane Fiona made landfall in Puerto Rico on Sunday and left parts of the island without power.

The OCC expects only bank offices directly affected by potentially unsafe conditions to close. “Those offices should make every effort to reopen as quickly as possible to address the banking needs of their customers,” the agency said.