The FDIC released guidance this week with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Texas affected by Hurricane Beryl. The agency encouraged banks in affected areas to work constructively with borrowers experiencing difficulties due to severe weather, including extending repayment terms, restructuring existing loans or easing terms for new loans. The agency said banks may receive favorable Community Reinvestment Act consideration for community development loans, investments and services in support of disaster recovery. The FDIC also will consider regulatory relief from certain filing and publishing requirements.
ABA DataBank: Retail sales surge in May
Even though U.S. consumers still face the challenge of elevated inflation, their robust spending should help support the overall economy and loan demand.
