The FDIC has issued two new sets of FAQs, one for financial institutions and the other for consumers, that address issues that may arise with respect to customers and communities affected by the coronavirus. The FDIC is encouraging financial institutions to work with customers especially borrowers from affected industries and small businesses and independent contractors that are reliant on those industries. The accompanying release states that prudent efforts to modify the terms on existing loans for affected customers will not be subject to examiner criticism.
