CrossCheck Compliance would like to acknowledge our colleague, Sara McGinnis, CRCM, CAMS, CAFP for her work writing the American Bankers Association (ABA) Reference Guide to Flood Compliance, First Edition. Thank you to numerous industry bankers and ABA colleagues for their time and expertise in bringing this guide to completion. The 2022 ABA Flood Compliance Guide is a new manual for banks and lenders, addressing the mandatory purchase requirement and its attendant obligations under the Flood Disaster Protection Act. This guide includes compliance for private flood insurance policies and addresses force-placement, escrow, loan servicing obligations, notice requirements, loan participations and more. The helpful guide, which provides an operational roadmap to flood compliance, also addresses common flood compliance issues beyond the existing regulatory language and the Interagency Questions and Answers. The guide is available for purchase on the ABA’s website. https://www.aba.com/news-research/analysis-guides/reference-guide-to-flood-compliance
