August 31, 2009
DFI Allows State Banks Affected by Fires to Close
The California Department of Financial Institutions (DFI) today authorized banks located in areas declared to be in a state of emergency by the Governor to close any or all of their offices affected by the fires.
Pursuant to California Financial Code Section 3600, the "Bank Extraordinary Situation Closing Act," William S. Haraf, Commissioner of Financial Institutions authorized banks located in the counties declared to be in a state of emergency to close any or all of their offices, including the counties of Los Angeles, Mariposa, Monterey, Placer and Yuba.
Customers of closed banks have access to funds through the ATM network, Internet and telephone banking.
Commissioner Haraf urges financial institutions to review their lending policies in order to grant appropriate latitude to existing customers affected by the fire and to expedite the extension of new credit to finance cleanup or rebuilding.