The Office of the Comptroller of the Currency is permitting banks affected by the wildfires in California to temporarily close.
Only branches affected by the fires, which were raging in Los Angeles and Ventura counties, should shutter their doors, the agency said in a press release Thursday. Those offices should also make every effort to reopen as soon as possible. The proclamation covers national banks and federal savings associations.
The California Department of Business Oversight, the regulator that oversees the state’s banking industry, had issued advisories on Wednesday allowing state-chartered banks in Los Angeles and Ventura counties to close branches in affected areas. The state’s governor has declared a state of emergency in both counties.