Proclamation of an Extraordinary Situation – DFPI Proclamation – 1/8/25

WHEREAS on January 7, 2025, Governor Gavin Newsom proclaimed that a state of emergency did then exist in Los Angeles and Ventura Counties of California due to extreme fire and windstorm conditions; and

WHEREAS Governor Newsom found that several fires have rapidly spread, threatening lives, destroying homes and critical infrastructure, and forcing the evacuations of thousands of residents; and

WHEREAS the Bank Extraordinary Situation Closing Act, under Financial Code section 1092, empowers the Commissioner of the Department of Financial Protection and Innovation, by proclamation, to authorize state‐chartered banks to close any or all of their offices in affected areas until the Commissioner determines the extraordinary situation has ended, or until the officers of the bank determine that one or more offices should reopen; and

WHEREAS, pursuant to Financial Code section 1091, an extraordinary situation is any condition or occurrence that may interfere or is inconsistent with the conduct of normal business operations at one or more offices of a bank or which poses a threat to the safety or security of persons or property, or both;

NOW, THEREFORE I, KC MOHSENI, Acting Commissioner of the Department of Financial Protection and Innovation, in accordance with Governor Newsom’s proclamation that a state of emergency exists in Los Angeles and Ventura Counties of California, and by the authority vested in me by Financial Code section 1092, HEREBY PROCLAIM THAT AN EXTRAORDINARY SITUATION EXISTS IN LOS ANGELES AND VENTURA COUNTIES OF CALIFORNIA.

I HEREBY AUTHORIZE state‐chartered banks in Los Angeles and Ventura Counties to close any or all of their offices until further proclamation of the Commissioner that the extraordinary situation has ended or until such time as the officers of the bank determine that one or more closed offices should reopen, and for such further time as may reasonably be required to reopen.

IN WITNESS WHEREOF I have hereunto set my hand and caused the Seal of the Commissioner of the Department of Financial Protection and Innovation to be affixed on this 8th day of January 2025.

KC MOHSENI

Acting Commissioner of Financial Protection and Innovation

WITNESS:

AARON PROSPERI

Deputy Commission of Banking

Proclamation of an Extraordinary Situation – Bank Closures – DFPI Proclamation (PDF)