February 12, 2015

NAFCU, seven other industry trade organizations joint letter to FEMA on Standard Flood Hazard Determination Form

From: National Association of Federal Credit Unions

In the letter, the groups urge FEMA to keep the Form as a one-page form. In the process of updating the form, FEMA moved a notice required under the Paperwork Reduction Act from the instructions area to the form itself. “The proposal to move the Public Protection Notice, while not substantive, would create considerable regulatory burden,” the groups write in the letter.

“Lenders populate the entries in the Form, and retrieve that information, on an automated basis. For automated forms, adding a new page would require significant, costly systems reprogramming,” the groups say.

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