Federal and state agencies announced relief to institutions and taxpayers affected by this month's winter storms in Texas and other states.
Regulatory Relief: Financial services regulators encouraged institutions to work constructively with borrowers, said they will expedite requests to operate temporary facilities, and recognized the impact on publishing, reporting, and CRA requirements.
Tax Relief: The IRS separately said affected taxpayers will have until June 15 to file various individual and business tax returns. The tax relief applies to the entire state of Texas and other areas with similar FEMA disaster declarations, with the full list of eligible localities available on the IRS website.
More: ICBA offers natural disaster resources on its Operational Risk webpage.
