Commissioner Gonzales Issues Statement on COVID-19 Pandemic

The Tennessee Department of Financial Institutions (TDFI) recognizes the impacts the pandemic event is having throughout Tennessee including straining the operational resources of the banks and credit unions we supervise. It is critically important that depository institutions can continue to focus their efforts on operations, their employees, their customers and their local economies during this pandemic crisis. In order to support those efforts, we are postponing examination activities through April 30, 2020 to avoid further strain on resources or distraction of institution personnel. For those banks or credit unions already contacted about an upcoming examination, we are suspending any examination-related requests unless you notify us that you do not desire a delay in the examination. If a bank or credit union requests that an examination continues during this time, we will certainly accommodate that request and complete the examination entirely offsite.

While examinations are suspended, TDFI will be contacting Tennessee state-chartered banks and credit unions via telephone to discuss the following:

• Any issues or challenges your institution is encountering or anticipating

• Your plans for continued operations

• Your plans to provide relief to customers and/or support your communities

• Any concerns or questions you may have

• Any assistance TDFI can provide

These calls are intended to provide timely, two-way communication that will inform you of TDFI’s endeavors to support depository institutions’ efforts to serve your customers and strengthen your local economies without placing an undue burden on institution personnel.

We will be contacting institutions soon to arrange dates and times for calls. We welcome any institution to contact us if they wish to expedite such a conversation. Please contact Alica Owen, Executive Assistant to the Commissioner, at 615-289-4738 or alica.owen@tn.gov to make such a request.