Tag Archives: flood insurance

In Advance of Committee Vote, ABA Shares Views on Flood Insurance Bills

While ABA supports the broader legislative effort to reauthorize the National Flood Insurance Program and several specific bills, the association today expressed “grave concerns” over certain provisions in the legislative package that the House Financial Services Committee is set to vote on starting tomorrow.

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Agencies Clarify Interpretation on Lender-Placed Flood Insurance

In response to a query by ABA staff, the federal banking agencies recently provided clarifications on whether a lender charging a customer for premiums and fees for force-placed flood insurance to a borrower’s loan balance constitutes a loan balance increase that would be a “triggering event” under the Flood Disaster Protection Act.

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