California Department of Financial Institutions Allows State Banks Affected By Winter Storms to Close
(San Francisco, CA) – The California Department of Financial Institutions (DFI) today authorized banks located in counties declared to be in a state of emergency by the Governor to close any or all of their offices affected by the winter storms.
Pursuant to California Financial Code Section 3600, the “Bank Extraordinary Situation Closing Act,” William S. Haraf, Commissioner of Financial Institutions authorized banks located in counties declared to be in a state of emergency to close any or all of their offices.
Customers of closed banks have access to funds through the ATM network, Internet and telephone banking.
California’s financial institutions are symbols of safety and soundness. Maintaining the integrity of financial services remains the primary mission of the DFI.
The DFI oversees the secure operation of California’s state-chartered financial institutions. DFI ensures public confidence in financial institutions by protecting the interests of depositors, borrowers, shareholders and consumers through enforcement of state laws. In addition to posting information about the Department and its licensees, DFI’s website features consumer tips on a variety of financial topics and consumer brochures in seven languages.
The DFI reports to Dale E. Bonner, Secretary of the Business, Transportation and Housing Agency and Governor Arnold Schwarzenegger.
FINDING OF EMERGENCY AND DETERMINATION THAT BANKS MAY, AT THEIR DISCRETION, CLOSE CERTAIN OF THEIR PLACES OF BUSINESS AFFECTED BY THE EMERGENCY
Commissioner of Financial Institutions hereby determines that an extraordinary situation (as defined in Financial Code Section 3601) exists due to winter storms in California.
Accordingly, pursuant to Financial Code Section 3602, the Commissioner of Financial Institutions authorizes banks located in areas affected by the winter storms to close any or all of their offices. Any office or offices so closed shall remain closed until the Commissioner proclaims that the extraordinary situation has ended or until such earlier time as the officers of the bank determine that one or more closed offices should reopen and, in either event, for such further time thereafter as may reasonably be required for the reopening of the office or offices.
Dated: January 22, 2010
WILLIAM S. HARAF
Commissioner of Financial Institutions
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