On January 14, 2025, several financial regulatory agencies issued a statement addressing the impact of the California wildfires and straight-line winds on financial institutions. The California Department of Financial Protection and Innovation, the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (FRB), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC) collectively announced measures to support affected institutions.

The agencies emphasized their commitment to providing "appropriate regulatory assistance" to institutions under their supervision in disaster-stricken areas. They encouraged these institutions to meet community financial service needs.

In terms of lending, financial institutions are urged to work constructively with borrowers in affected communities. The agencies support prudent efforts to adjust loan terms without facing examiner criticism. Institutions should evaluate loan modifications individually according to U.S. generally accepted accounting principles.

For temporary facilities, regulators will expedite requests for operation due to ongoing challenges such as staffing and telecommunications issues. A telephone notice can initiate this process.

Regarding publishing requirements, damage from wildfires may hinder compliance with regulations related to branch operations. Institutions facing such difficulties should contact their primary regulator.

Regulatory reporting requirements may also be impacted by the disaster. The agencies do not plan to penalize institutions that take reasonable steps but cannot fully comply due to these circumstances.

The Community Reinvestment Act allows financial institutions CRA consideration for activities that stabilize federally designated disaster areas within their assessment regions.

Institutions are advised to monitor municipal securities and loans affected by the disaster, recognizing potential impacts on local government projects.

Further guidance is available through documents provided by each agency:

- FDIC: [link](https://www.fdic.gov/news/news/financial/2017/fil17062a.pdf)

- FRB: [link](https://www.federalreserve.gov/supervisionreg/srletters/sr1714a1.pdf)

- NCUA: [link](https://www.ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/examiner-guidance-institutions-affected-major-disaster)

- OCC: [link](https://www.occ.gov/news-issuances/bulletins/2017/bulletin-2017-61.html)

Media contacts for further inquiries include Mark Leyes at CDFPI, LaJuan Williams-Young at FDIC, Meg Nelson at FRB, Joseph Adamoli at NCUA, and Stephanie Collins at OCC.

The NCUA plays a key role in regulating federal credit unions and managing insurance funds for account holders across federal and state-chartered credit unions while promoting consumer protection and financial literacy.