Browsing: Lender-placed insurance

Compliance

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.

Insurance

The FDIC today released an updated series of resource videos on flood insurance to help bank executives and compliance staff better understand federal flood insurance laws, regulations and compliance responsibilities.