Questions and answers from the July/August 2021 ABA Regulatory Policy and Compliance Inbox.
Browsing: Flood insurance
The American Bankers Association and 10 other trade groups commented today on the banking agencies’ proposed flood insurance guidance and stressed that question and answers are supervisory guidance and should not serve as the basis for supervisory action.
The Federal Emergency Management Agency today announced sweeping changes to the National Flood Insurance Program that will fundamentally alter the way it prices insurance and determines an individual property’s flood risk.
Ahead of an expected announcement on changes to the National Flood Insurance Program, the Federal Emergency Management Agency has begun posting information suggesting that the changes will have an uneven effect on states.
The banking agencies today requested public comment on 24 proposed interagency questions and answers about private flood insurance.
The American Bankers Association today joined a coalition of finance, housing and insurance trade groups in a letter urging the Department of Housing and Urban Development to quickly advance a proposed rule that would allow mortgagors the option to purchase private flood insurance on Federal Housing Administration-insured mortgages for properties located in Special Flood Hazard Areas.
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The Department of Housing and Urban Development today Read the proposal to allow mortgagors the option to purchase private floor insurance on Federal Housing Administration-insured mortgages for properties located in Special Flood Hazard Areas.
Today ABA commented on the interagency proposed questions and answers issued by the prudential banking agencies earlier this year.
The banking agencies today released several new interagency questions and answers on flood insurance compliance, as well as a major reorganization of and certain revisions to pre-existing Q&As.