DBO Commissioner Urges Banks, Credit Unions to Help Fire-Damaged Communities

Sep 17, 2015

Seeks Loan Payment Latitude, Expedited Credit for Customers

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SACRAMENTO – Department of Business Oversight (DBO) Commissioner Jan Lynn Owen today called on state-chartered banks and credit unions to be leaders in efforts to help communities recover in four fire-damaged counties.

The Commissioner urged banks and credit unions in Amador, Calaveras, Lake and Napa counties to grant appropriate latitude on loan payments to existing customers affected by the Valley and Butte fires. She also urged the financial institutions to ensure customers have ready access to their funds, and to expedite the extension of new credit to help residents and businesses finance cleanup or rebuilding. Finally, the Commissioner asked banks and credit unions to support fundraising efforts to help affected communities recover.

Commissioner Owen issued the following statement:
“Our banks and credit unions are more than financial institutions. They’re citizens of the communities in which they do business. I know they will come through, do their part, and more.”

The DBO regulates state-chartered banks and credit unions. A total of 94 bank and credit union branches are located in the four counties.