Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.
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.
The long-term recovery for thousands of Texans whose homes were decimated by Hurricane Harvey rests with a Trump administration government outsider who wants his agency's budget cut by billions of dollars.
“You can’t serve the public if your employees are shell-shocked,” said one top banker, comments echoed by other institutions dealing with the aftermath of Hurricane Harvey.
The Houston company doesn't expect any material impact on its commercial-and-industrial book, though there is potential risk tied to residential mortgages. Management, meanwhile, has started rolling out programs to help customers recover.
The agency has a relatively new program designed to quickly get funds into disaster-stricken areas. The problem is that many bankers don't know it exists.
