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Board of Governors of the Federal Reserve System
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Federal Reserve Board of Governors

Joint Press Release

Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Office of Thrift Supervision
National Credit Union Administration
For immediate release
January 13, 2006

Federal Financial Regulators Announce
Public Service Campaign to Help Hurricane Victims

WASHINGTON, D.C. (January 13, 2006) - The federal financial regulatory agencies today announced a public service campaign to aid in the financial recovery of victims of last year's hurricanes.

Although four months have passed since Hurricanes Katrina and Rita made landfall, some bank customers have not yet been in contact with their lenders. Communication is an essential step in the road to financial recovery.

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, the National Credit Union Administration and state financial regulators are encouraging banks, thrifts, and credit unions to continue to work with borrowers affected by the hurricanes. Assistance may include waiving fees, lowering interest rates, extending repayment schedules, or deferring principal or interest for an additional period, where appropriate. For these options to be considered, however, it is essential that the borrower contact his or her lender.

The federal financial agencies continue to work to meet the needs of federally insured depository institutions and their customers. Additional guidance is available at the Federal Financial Institution Examination Council's web site (http://www.ffiec.gov).

The public service announcements (PSAs) are being distributed to print and radio media outlets with the highest concentrations of people affected by the hurricane. The PSAs are also available for download and use from the OCC web site at http://www.occ.gov/hurricane.htm. If customers need assistance contacting their lender, please call the toll-free FDIC number, 877-275-3342.

Related financial information for hurricane victims:

  • FFIEC
  • Federal Reserve
  • FDIC
  • NCUA
  • OCC

    Media Contacts:
    Federal Reserve Susan Stawick (202) 452-2955
    FDIC Elizabeth A. Ford (202) 898-6993
    OCC Bryan Hubbard (202) 874-5770
    OTS Kevin Petrasic (202) 906-6677
    NCUA Nick Owens (703) 518-6336

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    Last update: January 13, 2006