CUNA Regulatory Comment Call

May 24, 1999

Two Separate Proposals:
EEOC & Flood Insurance

This Regulatory Comment Call covers two short proposed rules:

  1. A rule from the Equal Employment Opportunity Commission (EEOC) that would outline additional restrictions that employers must meet when they ask older workers to waive their rights under the Age Discrimination in Employment Act (ADEA). Comments are due no later than June 22, 1999, but please have your comments to CUNA by June 17.
  2. A rule from the Department of Housing and Urban Development (HUD) that would clarify that it is the location of the home and any related structure or equipment that determines whether the flood hazard exposure and National Flood Insurance (NFI) purchase requirements apply. Comments are due no later than June 29, 1999, but please have your comments to CUNA by June 24.

Please feel free to fax your responses to CUNA at 202-371-8240; e-mail them to CUNA's Assistant General Counsel Jeffrey Bloch at; or mail them to Jeffrey in c/o CUNA's Regulatory Advocacy Department, 805 15th Street, NW, Suite 300, Washington, DC 20005. You may also contact us if you would like a copy of the proposed rules or you may access them by clicking on EEOC or HUD.


EEOC Proposed Rule

This proposed rule incorporates a 1998 U.S. Supreme Court decision that held that an employee may assert claims under the ADEA without being required to return or "tender back" severance or other benefits given to him or her in exchange for an agreement to not bring such claims. The rule also includes the following provisions:

Flood Insurance Rule

This proposed rule would clarify that it is the location of the home and any related structure or equipment, and not simply any portion of the property, that determines whether the NFI purchase requirements apply. To be considered "related," the structure or equipment must be essential to the value of the property and subject to flood damage.

If the home and related structure or equipment are located within the 100-year floodplain, the proposed rule would permit mortgagees to submit an Elevation Certificate (EC) instead of a final Letter of Map Amendment (LOMA) or a final Letter of Map Revision. The EC alternative is intended to provide more flexibility and could have less impact on the floodplain than filling to the 100-year floodplain elevation, as may be required for a LOMA. The EC would document that the lowest floor (including the basement) is built at or above the 100-year elevation in compliance with the NFI Program.

Eric Richard • General Counsel • (202) 508-6742 •
Mary Mitchell Dunn • SVP & Associate General Counsel • (202) 508-6736 •
Jeffrey Bloch • Assistant General Counsel • (202) 508-6732 •
Catherine Orr • Senior Regulatory Counsel • (202) 508-6743 •