With help from the Kentucky Bankers Association, the Arkansas Bankers Association is raising funds to assist bank employees and others directly affected by recent tornadoes in the state. American Bankers Association Chairman Dan Robb announced at the Arkansas Bankers’ annual convention in Little Rock today that ABA will contribute $10,000 toward the effort.
At least 32 people died last weekend in Arkansas and other states after severe storms swept through the Midwest and South, according to media reports. In response, the Arkansas Bankers Association has coordinated with KBA to allow for donations through the Kentucky Bankers Relief Fund. Donations to the fund will be directed to bank employees in Arkansas directly affected by the storms and disaster relief efforts in those communities.
In related news, the FDIC released guidance today with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Arkansas affected by severe weather. The agency encouraged banks in affected areas 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.