Removing Barriers Blog

Agencies Extend Deadline for Comments on Flood Insurance Q&As

Today, the NCUA and other federal financial regulators extended the deadline for comments on the interagency Q&As regarding flood insurance. Significant topics addressed by the proposed revisions to the Q&As include the effect of major amendments to flood insurance laws with regard to the escrow of flood insurance premiums, the detached structure exemption, and force-placement procedures. The new comment deadline is November 3.

CUNA was the first organization to request such delay, filing a letter in July asking the NCUA to allow sufficient time for credit unions and other stakeholders to thoroughly analyze and digest the proposed Q&As.

We continue to urge you to share your input on the Q&As with us. It is particularly important for us to hear from you since many of the Q&As are technical and without your expertise it’s difficult for us to effectively advocate on your behalf.