April 2018 • Page 2 of 2 • RSK Compliance Solutions LLC

RSK.IQ Question of the Week 4/9/18

Posted on April 9, 2018April 6, 2018 by RSK.IQ.Staff

Determining Insurable Value for Flood Insurance Coverage

Issue/Inquiry

How does a bank calculate total replacement cost for the purpose of determining the correct amount of flood insurance required?

RSK.IQ Question of the Week 4/2/18

Posted on April 2, 2018April 2, 2018 by RSK.IQ.Staff

Regulation P and Annual Privacy Notice

Issue/Inquiry

The Bank’s understanding is that there is no longer a requirement to send an annual privacy notice if the Bank has not made any changes to its privacy policy or does not share information, as well as if such notice is available on the Bank’s website. The Bank also understands that even though the law has changed to this effect, there are no final rules issued by the banking regulatory agencies implementing such. Is the Bank’s understanding correct? The Bank includes a message in periodic statements indicating that the privacy notice is available on the Bank’s website. Is the message on the periodic statement still required?