Temporary Actions Taken by the Depository Division: Effective April 1, 2020
Audit Submission Requirements - The Department extends the timing of the audit submission requirement for banks and corporate fiduciaries outlined in DFI Policy Statement 001-04 for an additional 60 days and the completion of an audit for credit unions, outlined in 28-7-1-18, by 60 days.
Annual Meetings – Indiana code directs corporate bylaws to designate the time and manner of the annual membership/shareholder meeting. Given the concern around gatherings, and Executive Order 20-08 issued by Governor Holcomb limiting gathering and travel outside of the home except for essential services, the Department does not object to a temporary change in the corporate bylaws to alter the manner in which meetings are conducted. Financial institutions must still ensure proper notice is provided and all members/shareholders are given sufficient ability to participate in the meeting in whatever manners are designated. An ability to vote in the event a member/shareholder cannot attend the meeting shall also still be provided.
Federal Regulatory COVID Resource Sites & Issuances
Trade Group Resources
Other Financial Resources
COVID-19 State Health Resources
If you have any questions, please do not hesitate to contact our staff at 317-232-3955. We are available to offer regulatory assistance to all state-chartered financial institutions affected by COVID-19 related concerns. We stand ready to assist as we are able, and appreciate your interest in maintaining employee health while continuing to serve Indiana.