As the federal government shutdown continues to affect individuals, families, and businesses across the nation, banks are reaffirming their commitment to supporting their customers through these challenging times.
Drawing from lessons learned during previous extended shutdowns, the COVID-19 pandemic, and natural disasters, banks are providing personalized, case-by-case assistance to help customers maintain financial stability.
Banks are offering a variety of temporary financial relief measures for mortgage, business and commercial loan customers. Loan customers are encouraged to contact their lender directly to explore potential customized payment arrangements. Small Business Administration (SBA) loan application final authorization cannot occur until the government reopens.
Many banks also offer access to financial counselors and coaches who can provide practical guidance during periods of financial stress.
In addition, during times of uncertainty, scammers often attempt to exploit affected individuals. Customers should remain vigilant against government impersonators and fraudulent organizations claiming to offer benefits, grants, or special assistance. Remember: banks will never contact you asking for personal information, or to click on a link. Customers should always reach out to their bank using verified communication channels.
Arkansas banks remain steadfast in their mission to serve their neighbors. They are monitoring the situation closely, coordinating with regulators and community partners, and ensuring their services remain accessible, compassionate, and secure. The most important thing you can do is reach out to your local bank right away if you think you will need assistance with your circumstances.
Banks understand that every customer’s situation is unique-and they stand ready to provide personalized help and financial stability when it’s needed most.
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Lorrie Trogden is president and CEO of the Arkansas Bankers Association. Founded in 1891, the ABA is the voice of Arkansas’ $100 billion banking industry, which is composed of small, regional, and large banks that together employ more than 26,000 people. It is the state’s largest and oldest banking industry organization, providing a variety of member services, including educational programs, products and services, publications and a comprehensive government relations program.
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