With the National Flood Insurance Program set to expire at midnight on Monday, Sept. 30, unless Congress intervenes, an updated online feature from the ABA Banking Journal examines what bankers should do to prepare themselves and their customers. ABA Senior Counsel Diana Banks walks bankers through what to do before, during and after a lapse occurs.

Banks notes that before a lapse, institutions should carefully review guidance from the prudential regulators, consult with counsel to apply it to specific business areas, and encourage borrowers whose existing NFIP policies may be expiring soon to renew before the lapse occurs. When the lapse ends, bankers should verify whether the reauthorization is retroactive or not, and ensure customers understand their coverage in either case. Read the article. For more information, contact ABA's Diana Banks.