CCUL Headlines: Risk & Compliance

Regulatory agencies collaborate on educational webinar on new private flood insurance rule

Thursday, April 25, 2019   (0 Comments)
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On Tuesday, May 14, staff from the National Credit Union Administration, Board of Governors of the Federal Reserve, Farm Credit Administration, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency will discuss the flood insurance rule issued in February (84 FR 4953, February 20, 2019).

This new rule—that implements provisions of the Biggert-Waters Flood Insurance Reform Act of 2012—would apply to situations when a lender can and must accept private flood insurance to satisfy mandatory purchase requirements, which can include new loans and also instances when a loan is later in a flood zone.

Outlook Live Webinar: Interagency Flood Insurance Update on Private Flood Insurance Rule
Tuesday, May 14, 2019
Time: 2:00 p.m. – 3:00 p.m. Eastern
Cost: Free
Register »

The webinar will cover the following topics:

  • Mandatory acceptance of private flood insurance;
  • Mandatory acceptance Compliance Aid;
  • Discretionary acceptance of private flood insurance;
  • Flood Coverage provided by Mutual Aid Societies; and
  • Preparations to comply with the Rule

The presentation is followed by a Q&A segment, where audience questions will be addressed. In addition to the Q&A segment, participants are encouraged to submit questions in advance to

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