January 19, 2007
Message from the Commissioner - January 2007 Freeze
Commissioner Michael Kelley urges Department of Financial Institutions licensees to grant appropriate latitude to customers affected by the severe crop damage resulting from the January freeze. Governor Arnold Schwarzenegger issued a proclamation declaring a major disaster to exist in the counties of Fresno, Kern, Kings, Madera, Merced, Monterey, San Luis Obispo, Santa Barbara, Tulare and Ventura resulting from severe freezing conditions. Additional counties will be added to the Governor's proclamation as warranted.
Because of the estimated $700 million in damages to the citrus crop, and major damages to the avocado and the strawberry crops and the widespread effect it will have on the economy in these counties, the Commissioner encourages the Department's licensees to work with customers in dealing with the economic hardships of this disaster.