ABA Regulatory Policy and Compliance Inbox: Are late fees covered by the SCRA’s six percent cap on interest?
The intent of the SCRA was to ensure service members are not disadvantaged by their service and do not suffer ...
Tag: Flood insurance
Compliance question of the month: Must a bank require flood insurance required by investor/loan program even if not taking a building in a special flood hazard area as collateral?
The Small Business Administration recently issued Standard Operating Procedure 50 10 Version 7 that was effective Aug. 1, 2023. It ...
ABA backs reauthorization of National Flood Insurance Program
ABA urged lawmakers to support legislation to reauthorize the National Flood Insurance Program through the end of next year.
ABA Regulatory Policy and Compliance Inbox: For HMDA reporting, should bank use calendar year of application or date of final action?
And it permissible for a bank to purchase an email list from a third party to send out email marketing ...
ABA Regulatory Policy and Compliance Inbox: Must banks disclose all co-branding relationships?
And if a bank reports consumer deposit accounts to a “specialty” consumer reporting agency such as ChexSystems, is it required ...
ABA Regulatory and Compliance Inbox: when an un-submitted stop-payment request still matters to banks
What if the consumer never requested that the bank stop payment but submits a claim that the transaction is unauthorized?
FHA to allow flood insurance from private insurance providers
Previously, only insurance obtained through the National Flood Insurance Program was permissible for FHA-insured mortgages.
ABA recommends reauthorizing NFIP on a five-year basis
NFIP is “essential” so borrowers in flood-prone areas can access mortgage collateral and insurance to protect their properties, ABA said.
Banking agencies issue updated flood insurance guidance
The banking agencies issued a set of reorganized, revised and expanded interagency questions and answers on flood insurance compliance.
Incoming: Flood Insurance Premium Changes from Risk Rating 2.0
Flood insurance providers may begin communicating often substantial rate increases to borrowers this month. Here’s how to prepare for customer ...
