The Department continues to monitor the COVID-19 situation and is aware that it could impact your operations, staff, and customers.

If you have not already, review your business continuity plan, particularly as it relates to pandemics. Make sure all who have responsibility under the plan know what they should be prepared to do. As appropriate, communicate with all staff about what their responsibility is during a pandemic and what your expectations are for them.

Emergency closings for SSBs are found in the Texas Finance Code 93.011. In summary:

  • SSB officers determine whether to close a branch or main office during an emergency.
  • A SSB remains closed until the officers determine the emergency is over.
  • The SSB is required to give prompt notice of closure to the Commissioner.
  • If closing for more than 48 consecutive hours, a SSB needs approval from the Commissioner.

SML strives to put safety first. In an effort to promote safety for both your staff and the Department’s staff:

  • If you have to choose between safety and notifying anyone at SML, choose safety.
  • SML is making sure at least essential services can continue. All thrift staff have the capability to work remotely and to continue receiving and making calls.

Additional information will be provided, as deemed necessary.

The following websites are resources that you and your company may find helpful in your pandemic planning activities:

Interagency statement on pandemic planning –FIL-14-2020

Federal, State Regulators Encourage Consumer Support During Coronavirus Crisis –Press Release

Texas Bankers Association Coronavirus Resource Page

Independent Bankers Association of Texas

Texas Department of State Health Services (DSHS)

Centers for Disease Control (CDC)

World Health Organization (WHO)

U.S. Department of Labor: Occupational Safety and Health Administration (OSHA)

U.S. Department of State

U.S. Department of Veterans Affairs (VA)

U.S. Department of Health and Human Services (DHHS)

Caroline C. Jones
Department of Savings and Mortgage Lending