Pandemic Resource

Pandemic Resource

Hey Guru,
 
Are we required to post any kind of statement to the public or our customers as to our readiness for the COVID-19? If so, can you direct me to the kinds of things we need to say? We are working on an ad to educate our customers on how to use our online products if they are concerned about coming out in public to the branch. Thanks!


I wouldn’t call it a requirement to post a statement, but it’s definitely a best practice. I could easily see the examiners being just fine with your generic Pandemic planning, but next time they come in asking “what specific steps did you take in reaction to the recent COVID-19 event?”

Lots of generic best practices out there (CDC, etc.), and of course your response would depend on your capabilities (encouraging e-banking vs. face-to-face transactions, and e-signatures for physical signatures on loan documents, for example). For some FI-specific resources and more, read the complete blog post at ComplianceGuru.com.