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Fast Facts: HURRICANE SANDY RESPONSE EFFORTS

FACT: Hurricane Sandy was one of the largest and most costly storms ever to strike the U.S. The New York Stock Exchange (NYSE) and other U.S. equity markets were closed for two days. The last time the NYSE was closed two consecutive days for weather-related reasons was 1888. Very early estimates suggest Sandy caused as much as $50 billion in total economic losses and up to $20 billion in privately insured losses. FACT: Despite Hurricane Sandys catastrophic damage, the property/casualty insurance industry is wellpositioned to respond. Insurance firms capital and surplus are at all-time highs. Experts expect private insurers will meet all their obligations from Hurricane Sandy without additional assessments or support. Insurers and reinsurers maintained their strength during 2011, which saw record tornado and thunderstorm losses in excess of $25 billion, including the events that devastated Tuscaloosa, Alabama and Joplin, Missouri. FACT: Many financial services companies are helping customers in the aftermath of Hurricane Sandy by extending fee waivers and providing donation support. Examples include: The Allstate National Catastrophe Team (NCT) is coordinating efforts with local claims offices to effectively respond to claims resulting from the storm. Allstate Mobile Claim Centers and Catastrophe Response vehicles/teams have been deployed, and 800 Allstate adjusters are on standby, awaiting deployment to affected areas as soon as they are identified and it is safe to enter them. Ameriprise posted information before, during, and after the storm about account access, money movement and market closure. Ameriprises Auto & Home Organization promoted a Hurricane Safety Action Guide via Twitter and Facebook. Ameriprise will rebate ATM fees through Monday, November 5, 2012 and the company's employee and advisor gift matching program is providing a dollar-for-dollar match for contributions to the American Red Cross and other disaster relief organizations. Their philanthropic partner, Feeding America, is providing food, water and other supplies to those affected by Sandy. Bank of America has activated its disaster relief program for customers affected by severe storms and floods, allowing qualified customers to receive credit increases, modified payments, and penalty forgiveness. Additionally, the Bank of America Charitable Foundation announced it will donate $1 million to support relief efforts in the wake of Hurricane Sandy including $500,000 to the American Red Cross Hurricanes 2012 fund. November 2012

BB&T is waiving fees to clients who incurred overdrafts, returned items and negative account balance fees or late fees on loan payments related to the storm. BB&T is working with loan clients who incurred damage to their homes. In addition, BB&T has made a $25,000 donation to the American Red Cross and is offering humanitarian aid where needed. Citi is providing proactive waivers covering overdraft protection; non-sufficient funds; late payment for credit products; wiring funds to affected Citi customers; and early CD withdrawal through at least November 5, 2012 to all Citi customers in impacted areas. Citizens Bank announced the establishment of a suite of emergency lending products and other services designed to expedite Hurricane Sandy recovery efforts for individuals, small businesses and nonprofit organizations. Starting Nov. 2, the bank will be offering low-interest loans, introductory no-interest credit cards for six months, early CD withdrawal, and other recovery financing options in Delaware, Philadelphia, New York, New Jersey, Connecticut, Rhode Island, Massachusetts, New Hampshire and Vermont. Discover Financial Services is encouraging its card members to donate their Cashback Bonus to the American Red Cross. Discover will match those donations dollar-per-dollar up to $500,000. Discover will also be matching employee donations to the Red Cross dollar-per-dollar. The Hartford will provide a $250,000 contribution to the American Red Cross disaster relief efforts in support of those affected by Hurricane Sandy. HSBC USA announced a $1 million commitment in support of the disaster recovery efforts. This includes an immediate donation of $500,000 to the American Red Cross in Greater New York. HSBC will also match dollar for dollar all employee donations to disaster relief efforts through its existing employee giving program, as well as work with community partners who provide emergency housing and financial assistance in the storm-impacted areas. In addition, for HSBC customers in affected areas, the company will provide assistance to customers in the recovery effort wherever possible, including reversing HSBC fees incurred as a result of the hurricane. These may include ATM fees, overdraft fees, and late fees on installment loans, mortgages and credit cards. ING U.S. is encouraging its employees to donate to Hurricane Sandy disaster-relief efforts. The company's ING Foundation will be matching employee contributions to the American Red Cross, and a portion of its contribution to AmeriCares will assist with the disaster-relief efforts. PNC is waiving overdraft, NSF, continuous overdraft, and overdraft protection transfer fees, and refunding consumer and business loan late fees incurred by PNC customers in eligible areas affected by Hurricane Sandy. ATM surcharge and foreign ATM fees have been pro-actively waived in several PNC markets. PNC is offering reduced interest rates and attractive terms on consumer and business loans to affected customers. PNC Mortgage customers in FEMA-declared disaster areas can call our mortgage call center to see if they are eligible for additional assistance. The PNC Foundation, is donating $150,000 each to the American Red Cross and Salvation Army, and will match employee donations up November 2012

to a set limit to the American Red Cross, Salvation Army and Americorps. PNC employees in affected areas may also be eligible for assistance from PNC. The Principal Financial Group is extending assistance with all of its products and services to customers who have been impacted by Hurricane Sandy. As an annual sustaining sponsor of the American Red Cross, The Principal is committed to providing ongoing support for disaster relief. If customers need assistance from The Principal, they can find important service and contact information at www.Principal.com. Customers can also call The Principal at 800.986.3343 (Monday-Friday, 8 a.m.8 p.m., EST) concerning the following: extending payments, receiving payments, replacing lost or damaged policy information, and address changes. Sallie Mae is waiving late fees for student loan customers who make contact about the storm impacting their ability to make their payment. Customers experiencing difficulty are encouraged to contact Sallie Mae in order to determine the best way for the company to offer assistance and payment flexibility. Sallie Mae Bank is waiving early withdrawal fees on CDs, wire transfer fees, and excessive transaction fees for retail banking customers in affected areas. The State Farm Catastrophe Team, the largest of its kind in the industry, has mobilized and the effects of the storm are being continually evaluated to determine the number of adjusters needed as deployments continue for this event. The Catastrophe Team is partnering with local State Farm agents and associates to handle received claims for impacted policyholders. Additionally, our Centralized Catastrophe Services operations are available to handle claims for our customers. State Farm provided $1 million to the American Red Cross for its disaster relief programs this year and is committing up to $250,000 to non-profit organizations in the impacted areas. Since 2000, State Farm has donated more than $20 million to help when tragedy strikes. TD Bank launched an assistance program to help customers impacted by Hurricane Sandy. Program elements include: fee refunds on consumer and small business deposit accounts, loans, or credit cards; immediate access to CDs without an early withdrawal fee; instant issue debit cards; and expedited delivery of credit cards that offer up to $25,000 of immediate credit, pending approval. Additionally, TD is donating $500,000 to the American Red Cross to support Hurricane Sandy relief efforts. U.S. Bank is waiving late charges and offering credit bureau protection for mortgage customers whose homes or workplaces have been affected and will work with impacted mortgage customers on payment options. U.S. Bank is also waiving late, over limit, and annual fees for U.S. Bank and Elan cardholders located in the affected areas. Webster Bank is working with customers on a case by case basis to waive fees incurred due to Hurricane Sandy. These waivers could include late payment and overdraft fees. Additionally, Webster Bank has made a $10,000 donation to the American Red Cross Disaster Relief Fund to help support those affected by Hurricane Sandy. Wells Fargo will waive or credit certain fees for customers who have been impacted by the storm. Additionally, Wells Fargo will donate $1 million for relief efforts in the wake of Hurricane Sandy. A November 2012

portion of the funds, $250,000, will go to the American Red Cross Disaster Relief Fund to support relief efforts the agency is directing throughout impacted areas in the region. The remaining $750,000 will go to support nonprofits conducting grassroots relief and recovery efforts in affected areas. Most of Wells Fargos more than 12,000 ATMs in the U.S. will be able to accept donations for American Red Cross relief efforts. FACT: On October 30, 2012, the Office of the Comptroller of the Currency, the Federal Reserve and the Federal Deposit Insurance Corporation released a statement providing guidance to financial institutions affected by Hurricane Sandy and their customers. The outline urges banks to work constructively with borrowers in those communities hit by Sandy, and offers other guidance related to the Community Reinvestment Act, municipal securities and loans affected by the storm, regulatory reporting and publishing requirements as well as temporary banking facilities.

If you were impacted by Hurricane Sandy,

Insurance policyholders who need to report a claim following Sandy or have questions regarding their policy should contact their insurance agent or insurance company directly. Consumers can use the linked toll-free numbers provided by the Insurance Information Institute. For flood insurance claims, contact your agent or insurance company as well. If you do not who your insurer is you should contact the National Flood Insurance Program (888-379-9531). The only information required is your name, the state where you live and your zip code. For a detailed, step-by-step look at filing a flood claim, visit the governments FloodSmart website. View all previous Fast Facts at www.RoundtableResearch.org For over 100 weeks, the Roundtable has delivered Fast Facts to select opinion leaders in the financial services industry, Congress, and media. Fast Facts provides easy-to-understand, reliable research about current issues facing the financial services. Financial Services HOTLINE: If you have questions about this topic or any other issue facing financial services, please reach out to Abby McCloskey, Director of Research at the Financial Services Roundtable, at 202-589-2531 or Scott Talbott, Senior Vice President of Public Policy, at 202-289-4322. Learn more about the Financial Services Industry at www.OurFinancialFuture.com. OurFinancialFuture.com is continuously updated to bring you the most useful information about the industry in real-time.

November 2012

November 2012