Agencies Release Proposed New Interagency Questions and Answers Regarding Private Flood Insurance

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Agencies Release Proposed New Interagency Questions and Answers Regarding Private Flood Insurance

 Five federal regulatory agencies today requested public comment on 24 proposed Interagency Questions and Answers Regarding Private Flood Insurance.  

The proposal is intended to help lenders comply with the agencies’ joint rule promulgated in 2019 to implement the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012.    

The proposal incorporates new questions and answers in a number of areas including:

  • Mandatory Acceptance,
  • Discretionary Acceptance, and
  • Private Flood Insurance General Compliance.

These questions and answers would supplement the 118 Interagency Questions and Answers Regarding Flood Insurance that the agencies proposed on July 6, 2020.      

Comments will be accepted for 60 days after publication in the Federal Register.

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Attachment: Questions and Answers Regarding Private Flood Insurance (PDF)

Media Contacts           

Board of Governors of the Federal Reserve SystemSusan Stawick   (202) 452-2955
Farm Credit AdministrationEmily Yaghmour (703) 883-4056
Federal Deposit Insurance Corporation         Brian Sullivan (202) 412-1436
National Credit Union AdministrationBen Hardaway(703) 518-6330
Office of the Comptroller
of the Currency
Bryan Hubbard   (202) 649-6870
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