Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance

Title: Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance
Subject: Flood insurance
Agency: FDIC, Federal Reserve, NCUA, OCC
Status: Notice and request for comment
Summary:

The OCC, Board, FDIC, FCA, and NCUA (collectively, the Agencies) propose to reorganize, revise, and expand the Interagency Questions and Answers Regarding Flood Insurance and solicit comment on all aspects of the amendments. To help lenders meet their responsibilities under Federal flood insurance law and to increase public understanding of their flood insurance regulations, the Agencies have prepared proposed new and revised guidance addressing the most frequently asked questions and answers about flood insurance. Significant topics addressed by the proposed revisions include the effect of major amendments to flood insurance laws with regard to the escrow of flood insurance premiums, the detached structure exemption, and force-placement procedures.

FR Doc: 2020-14015
Date proposed: June 26, 2020
Comments due date: Sept. 4, 2020
Effective date:

Rule compliance date:
Agency release:

Related Reg Report item(s): Agencies propose updating flood insurance Q&As reflecting rule changes

 

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