Department of Financial Institutions
Kentucky Banks Work to Continue Serving Customer Needs

Press Release Date:  Tuesday, February 03, 2009  
Contact Information:  Kelly May, Public Information Officer
502-573-3390 x252
800-223-2579 x252

   FRANKFORT, KY (Feb. 3, 2009) – The Kentucky Department of Financial Institutions (DFI) is working with financial institutions impacted by the recent snow and ice storm, especially in Western Kentucky, to ensure that services continue.

   Some banks are on limited schedules and a few bank branches may have closed where electric service has been disrupted due to the winter storm that began Jan. 26. However, all impacted banks should have emergency procedures in effect, which would allow for at least one operating branch to serve customer needs.

   “Banks have initiated their emergency preparedness plans, and those are effective,” said DFI Commissioner Charles Vice. “Hundreds of thousands of Kentuckians were left without electricity, water and heat. It is imperative that these citizens have access to funds they may need to purchase supplies or pay for alternate lodging.”

   The DFI and the Kentucky Bankers Association co-hosted a forum in October 2007 in Cadiz, Ky., called “Issues Bankers Face in a Disaster,” that prepared bankers and regulators for just such an event. The discussion illuminated potential risks and sources of assistance available.

   If citizens find they are not able to access funds, they may contact DFI’s consumer complaint ombudsman Andie Cubert at 800-223-2579. Or, citizens may contact the Federal Reserve Bank St. Louis at 314-444-8555 or the Federal Deposit Insurance Corp. (FDIC) at 877-ASK-FDIC or TDD at 800-925-4618.

   DFI is an agency in the Public Protection Cabinet. It supervises the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. DFI’s mission is to serve Kentucky residents by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.