Federal bank regulators have again encouraged banks to be sympathetic to customers suffering the aftereffects of Hurricane Katrina.
In a statement released late Thursday, the Federal Reserve, the Federal Deposit Insurance Corp. and other agencies said banks should consider dropping ATM fees temporarily and increasing ATM withdrawal limits.
The agencies also suggested banks waive restrictions on cashing out-of-state and non-customer checks as well as on late fees on credit cards or other loan balances. And they encouraged banks to delay contacting credit bureaus for customers whose loans are past due.
Finally, regulators said banks should ease identification requirements for patrons.
"Recognizing the urgency of this situation, the agencies encourage depository institutions to use non-documentary verification methods for affected customers that may not be able to provide standard identification documents," the agencies said in a joint press release.
Perhaps tens of thousands in the affected areas may be without driver's licenses or other traditional forms of identification. The agencies offered no concrete suggestions on how banks should identify customers without paperwork.
