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Today is: April 11, 2021  
 
 

  

Monthly Telephone Briefing

BCG offers its members monthly Telephone Briefings on legal and regulatory matters. Also, you have the option to listen to audio presentations of meetings archived for up to 12 months after their original presentation dates. This benefit is called, “Listen While You Work.” You simply select a topic, minimize the screen, and listen to a streaming audio presentation while you work at your desk.

Please feel free to sign up annually, register for the next scheduled BCG Monthly Telephone Briefing or download an archived Handout below.

 

BCG Monthly Telephone Briefing Schedule 2021
Jan Feb Mar April May June July Aug Sept Oct Nov Dec
15 19 19 16 21 18 16 20 17 15 19 17

 

Current BCG Monthly Telephone Briefing Topic(s)

 

  

 

Friday, April 16, 2021
12:00 - 1:30 p.m.

Agencies Propose Private Flood Insurance Q&As

Over the past near decade, several major laws and regulatory rules have been issued that have significantly changed regulated lenders’ obligations under the flood insurance regulations. For example, a 2015 final rule changed the flood insurance regulations’ exemptions, and escrow and force-placement requirements, and a 2019 final rule required lenders to accept private flood insurance (PFI) in certain circumstances. Despite all of these changes, the “Interagency Questions and Answers Regarding Flood Insurance” have remain unchanged. As we discussed during the September 2020 BCG Telephone Briefing, last year the agencies proposed to update the Q&As to reflect all of these developments, except the 2019 PFI final rule. They promised another set of Q&As dedicated to the PFI requirements. Last month, the agencies proposed the PFI Q&As they promised. We will discuss those proposed PFI Q&As during BCG’s April 2021 Telephone Briefing. Like always, we expect to be flooded with questions, so bring them! Handout to be posted Thursday, April, 15th.
 

CFPB Rescinds COVID Temporary Compliance Flexibility Statements

Recognizing the challenges the pandemic presented, the CFPB issued several statements throughout 2020 that provided temporary compliance flexibilities. Since then, the CFPB is now operating under the Biden administration and the CFPB has concluded “financial institutions have had a year to adapt their operations to the difficulties posed by the pandemic.” As a result, on March 31, 2021, the CFPB rescinded those 2020 statements effective April 1, 2021. According to its announcement, “[w]ith the rescissions, the CFPB is providing notice that it intends to exercise the full scope of the supervisory and enforcement authority provided under the Dodd-Frank Act.” In other words, they are making it perfectly clear that a new sheriff is in town. Join us for the Monthly Telephone Briefing on April 16, 2021, during which we will discuss the statements the CFPB rescinded and why they did so. Handout to be posted Thursday, April, 15th.

 

 

 
 
 
 
 
 

 

 

 

 

 

 

 

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