US regulators offer supervisory relief in wake of hurricane Florence
Fed and state regulatory agencies will relax supervision so the banks can meet community needs
Federal and state financial regulatory agencies have said they will offer financial firms additional leeway to aid disaster recovery in the wake of hurricane Florence, according to a statement issued on September 14.
Hurricane Florence, at its peak a Category 5, hit the Carolina coast on September 14. The storm brought gusts of over 100mph and flash flooding to an area that is not used to such disasters. Large-scale destruction to communities puts pressure upon the local and federal financial
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