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DBO Authorizes State Banks Affected by Fires to Close

The California Department of Business Oversight (DBO) today authorized banks located in areas declared to be in a state of emergency by the Governor to close any or all of their offices affected by the fires. 

Pursuant to California Financial Code Section 1090, the "Bank Extraordinary Situation Closing Act," Commissioner of Business Oversight Jan Lynn Owen authorized banks located in areas of San Diego County declared to be in a state of emergency to close any or all of their offices. Please visit the "What's New" section of  www.dbo.ca.gov to view the Commissioner's Proclamation.

Customers of closed banks have access to funds through the ATM network, Internet and telephone banking.

Commissioner Owen urges financial institutions to review their lending policies in order to grant appropriate latitude to existing customers affected by the fire and to expedite the extension of new credit to finance cleanup or rebuilding. 
 

For more information contact Patrick Carroll at patrick.carroll@dbo.ca.gov