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Members' input to NAFCU on the joint agency proposal on flood insurance is due Friday. Members can supply that input via the association's Regulatory Alert(login required).

NAFCU will use its members' input in formulating its official comment letter. Comments are due to the NCUA Jan 6.

Released in October, the proposed rule would require lenders to accept private flood insurance on a discretionary basis and subject to certain restrictions.

NAFCU is seeking comments on, among other points, whether credit unions offer loans in special flood hazard areas and if the ability to accept private flood insurance will affect their decision to offer loans in these flood hazard areas.

The proposal would fulfill the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. The proposal was released jointly by the NCUA, the Office of the Comptroller of the Currency, the Federal Reserve, the FDIC and the Farm Credit Administration.