The FDIC released guidance today with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of New Mexico affected by the South Fork and Salt fires, and areas of Iowa affected by severe storms and tornadoes. The agency encouraged banks in affected areas to work constructively with borrowers experiencing difficulties due to the wildfires and 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.
Survey: Millennials lead in saving for emergencies
The survey found differences in each generation's approach to money. It also reported four strategies that, according to those surveyed, help build financial wellness: saving regularly, budgeting, reducing unnecessary spending and paying down debt.
