Hurricane Katrina: Legal Issues - Columbus School of Law

If you are trying to bank in an area of relocation, it will be concerned as to whether you have sufficient funds in your
account. It will need to contact your bank to verify funds. Also, you may have your bank wire funds to the relocation
bank and establish an account there.
What if I have lost my identification and/or banking information?
The U.S Department of the Treasury has encouraged banks to ease identification normally needed to make
banking transactions.
Banks are encouraged to call the Social Security Administration’s hotline (1-800-772-1213) with the
customer’s information to verify identification.
Please see other relevant portions of this manual such as Document Replacement and the Banking Appendix
containing bank contact information
Banks will be granted flexibility should a check forgery reclamation action arise.
Will my deposits and/or drafts still be functioning normally? What if I am not able to pay them?
Regulators are encouraging banks to work with customers that were heavily affected by Hurricane Katrina.
The FDIC has asked banks to allow some loan payments to be skipped without affecting credit history, extend
the term of loans, and to restructure loans.
Do NOT skip a payment without trying to contact your bank first. Please see the Banking Appendix containing
bank contact information.
What happens if I had property in a safety deposit box at my bank? Will insurance cover it?
Deposit insurance does not cover contents in your safety deposit box. Contact your bank to determine whether
contents are salvageable.
Many banks’ safety deposit boxes are within vaults and are well protected from water and fire damages.
Can I still have replacement documents and/or monthly account statements sent to me at a temporary
address?
Yes. As long as you have a fixed address, you can contact the U.S. Postal Service either by phone, 1-800-
ASK-USPS, or online, www.usps.gov, and request that your mail be sent to a fixed address.
How will I get my Social Security check?
If you are not in your area, you may want to open an account in the area you are in and contact the Social
Security Administration ("SSA") with your banking information.
SSA is also experiencing some difficulty in those areas affected by Hurricane Katrina and banks are being
asked to honor- after prudent verification- handwritten, typewritten, and laser SSA checks issued in Louisiana,
Mississippi, and Alabama offices.
What are the policies for cashing U.S. Treasury Checks for FEMA Disaster Assistance and Federal benefit
payments? (For institutions/depositories)
This policy will remain in effect until 60 days after September 14, 2005 (Monday, November 14, 2005).