Disaster planning

Citigroup and Morgan Stanley told employees not to travel internationally for nonessential business, expanding earlier restrictions in Wall Street's latest responses to the spread of the coronavirus.

Given the possibility of a nationwide outbreak, the time is now for credit unions to take steps to protect themselves and their members.

From power outages to branch closures and even homeless kangaroos, rampant wildfires have presented credit unions in Australia with challenges they've rarely seen before.

Brett Martinez, president and CEO of a Redwood Credit Union, has become an expert in disaster preparedness after wildfires ravaged the California communities he serves. Those efforts have earned him an Anchor Award.

The lawmakers want U.S. banking agencies to join their international peers in ensuring the financial system is resilient to climate-related risks.

Sierra Central Credit Union has launched emergency relief programs for staff and members impacted by the Northern California wildfires as the CU's Paradise, Calif. branch unexpectedly survived.

Assessments of damage to branches and customers' homes have been elusive.

During a recent panel discussion, two CEOs shared their own experiences as their branches were overcome by smoke from wildfires raging across Northern California

The League of Southeastern Credit Unions & Affiliates has distributed more than $70,000 to help rebuild after the storm ravaged the Florida Panhandle.

The storm could impact as many as 57,000 homes and cause more than $13 billion in damages, according to one estimate.

A string of natural disasters in Mexico and the Carribean offered a rare test of leadership for Jane Fraser, Citigroup's top executive in the region, but she faced it head-on.

The San Juan company has largely recovered from the hurricane that hit a year ago, and it has made extensive preparations for future natural disasters. Yet its home market is still suffering from debt and net outmigration of residents.

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Credit unions across the mid-Atlantic are bracing for Hurricane Florence, with many closing their doors and not expecting to reopen until next week.

NAFCU has canceled its annual Congressional Caucus in Washington in advance of the storm as credit unions in the Carolinas and Virginia do what they can to prepare and, in some cases, begin evacuations.

Branch traffic and loan demand are up, but with significant parts of the recovery effort still unfinished, are Puerto Rico’s credit unions ready for more storms?

Banks may need to do more to help small businesses after a hurricane, flood or other calamity as those firms tend to favor nonbank lenders after an emergency for a number of reasons, according to research by four regional Federal Reserve banks.

Banks and their regulators quickly got back up to speed in markets hit hard by recent hurricanes, thanks in part to the lessons learned in the aftermath of Hurricanes Katrina and Sandy, a panel of regulators said Tuesday.

Recent hurricanes and wildfires still raging in California are fresh reminders to bankers of the importance of emergency preparedness plans.

As conditions worsened on Wednesday, bankers said that their employees’ safety is their top priority.