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Thank you. I have also been asked if the bank can exclude line increases on credit cards reported on the 2022 CRA LAR. There have been discussions surrounding interpretation of the 1071 Summary vs the 1071 final rule.
Thoughts?
I have a 2.0 question regarding an Evidence of Flood Insurance Coverage Placed (renewed policy under 2.0) we received recently. Under 2.0 my understanding is like above, coverage will be based on risk and we may not see a “zone” on our policies or evidence of flood insurance. What has thrown us for a loop is our understanding that if a home is located in an SFHA it will still require coverage, our flood determination states its located in Zone AE an SFHA, but our Certificate of Insurance notes “FLOOD ZONE: Non-SFHA Zones”. Wouldn’t we want to see the Flood Zone section state “FLOOD ZONE: SFHA ZONE”?
