The Federal Reserve's nationwide preparedness plan for cash emergencies is being put to a unique test in Puerto Rico. Stocks are being replenished with daily flights, but the lack of power to ATMs and branches is contributing to reports of cash shortages.
Florida and Texas are normally major sources of mergers, but bankers in those states likely will take a break to assess damage from the hurricanes before returning to dealmaking.
Bankers in Florida and Texas are dusting off their disaster-recovery playbooks, which focus on retrieving customers' valuables, ensuring employee safety and minimizing the bank's own legal exposure.
Texas bankers recovering from Hurricane Harvey are reflecting on their experiences, identifying what went right and what they could do better. Their views could prove useful to Florida bankers hurriedly preparing for the nation's next big hurricane.
Messaging services, mobile banking and remote deposit capture are expected to help Florida banks that aim to keep up with employees and offer uninterrupted service to customers.
Natural disasters like Hurricane Harvey reveal banks’ ability to lend a hand to communities in need, and to keep employees engaged and motivated for the initiatives that matter most.