Comment deadline on proposed flood insurance Q&A update pushed to Nov. 3

Federal regulators have extended until Nov. 3 the public comment deadline on their proposed update to interagency questions and answers regarding flood insurance, the agencies announced recently.

In a Sept. 1 release, the regulators – the Federal Deposit Insurance Corp. (FDIC), Federal Reserve, National Credit Union Administration (NCUA), and Office of the Comptroller of the Currency (OCC) – said they extended the deadline, originally set for Sept. 4, “because of the extent of the revisions proposed by the agencies and in light of the challenges associated with the COVID-19 pandemic.”

The updated Q&A list, among other things, addresses the escrow of flood insurance premiums; the detached-structure exemption to the mandatory purchase of flood insurance requirement; and force-placement procedures. It also revises Q&As from the existing roster to improve clarity and reorganize by topic.

Agencies Extend Comment Period on Proposed Revisions to Interagency Questions and Answers Regarding Flood Insurance

Notice for Federal Register

RR: Agencies propose updating flood insurance Q&As reflecting rule changes (June 26, 2020)