Natural disasters

Federal and state regulators Thursday offered a slew of regulatory relief measures to banks and credit unions affected by the disastrous California wildfires.

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

As the Federal Housing Administration prepares to release its annual actuarial report this month, the industry is questioning how the reverse mortgage program fits into the agency's future.

The agency says lenders lacked the risk appetite, while bankers point to concerns over turnaround times and strict loan terms.

Brett Martinez, president and CEO of Redwood Credit Union, will be honored for his efforts in supporting survivors of California's wildfires in 2017.

Credit unions based on the island made history receiving CDFI grants for the first time ever, but larger issues tied to population decline remain.

Donations to CUAid will go toward assisting credit union employees and volunteers impacted by the storm.

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

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.

The storm dumped a record amount of rain on North Carolina over several days. Some sections of the coast remain off limits due to flooded highways.

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

With the large storm threatening coasts in Virginia and the Carolinas, some banks are planning to shutter branches for the rest of this 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.

Every year communities are hit by hurricanes, earthquakes, tornadoes and other disasters. These banks have found novel ways to take care of customers and employees in those emergencies.

The storm dropped record rainfall on the Big Island, leaving one credit union with as much as two feet of water in its basement.

The $2.7 billion-asset credit union is mobilizing support for relief efforts following floods in the southern central portions of the Badger State.

With a rare central Pacific storm set to bring as much as 20 inches of rain on the Big Island, credit unions across the state are shutting down, following the lead of schools, state employees and more.

The new policy, meant to assist borrowers in Puerto Rico and the U.S. Virgin Islands, will let servicers evaluate borrowers using pre-disaster payment information.