New Mexico banking regulator confirms financial institutions are essential business

State Issues Covid-19 New Mexico

On March 24, the New Mexico Regulation and Licensing Department, Financial Institutions Division (FID) issued guidance confirming that, for purposes of the public health order closing all non-essential business in New Mexico, all depository and non-depository financial institutions licensed and regulated by the FID are considered “essential business” and are not subject to the order. The guidance also encourages institutions to work with customers in a manner that maintains the overall safety of the financial institution.