The FDIC Asks for Help
Currently the FDIC is requesting that banks make it easier on affected consumers by
- Waiving ATM and overdraft fees
- Easing restrictions on check-cashing
- Making it easier to open checking accounts with less documentation
- Allowing customers to skip loan payments and/or reduce payments
- Delaying delinquency notices to credit bureaus
If you are in an affected area, check with any bank you can get to in order to see if you can take advantage of these changes.
What is my Bank’s Status?
To find out if your bank or credit union is operating, see these lists. You’ll find institution names, phone numbers, and operating status. These files are in PDF format.
- Banks listed here
- Credit Unions list - (Document no longer online)
Safety Deposit Boxes
Note that safety deposit boxes are not covered by FDIC insurance. However, these boxes are designed to stand up to all kinds of abuse. If your bank was secure, you’ve got a decent chance that your belongings are in good order.
What Else Can I Do?
I can’t overemphasize that you should be proactive about your finances. For example, if you think this disaster will mess up your mortgage payments, call the mortgage company and talk with them. Although a simple glance at your zip code will suggest the cause of the problem, you should find out what steps to take and get the ball rolling. The bank knows that the hurricane was not your fault, and they’d rather skip a few payments than go through collections.
It will undoubtedly take time for things to return to normal. Be assured that financial institutions are working hard to get back up and running. If you can’t contact them and you need help, use any local aid agency available.
Keep any financial documents that you can get your hands on. This may speed up any important process and make life much easier. For more information on recovering from this disaster and preparing for the next one, read the article titled What to Do if Your Bank is Destroyed.
Scams and Security
Whenever you have a lot of people in a difficult situation, you’ll have a few scammers figuring out ways to profit from the disaster. Please be cautious with your personal and financial information. Follow standard banking security and safety procedures and your chances of coming out unscathed are much better. When in doubt, ask the authorities (FDIC, NCUA, FTC) if anybody who approaches you is legitimate.
Remember that your home, your bank, and other institutions contained valuable personal and financial data. During and after the hurricane, it is possible that somebody got their hands on your information and will use it for identity theft. Keep an eye on your credit reports (use your government mandated free credit reports if you aren’t already) so you’ll catch any problems as early as possible.
File an Insurance Claim
If your home was damaged or destroyed, you should inform your insurance company as soon as possible. The old phrase "hurry up and wait" comes to mind here. The sooner you get going, the better. About's personal insurance guide has a really helpful article explaining the 5 Steps to Preparing and Filing a Homeowner's Claim.
