Regulatory Alerts2021-03-18 | 2021-05314Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Private Flood Insurance
The OCC, Board, FDIC, FCA, and NCUA propose 24 new questions and answers to supplement existing guidance on the acceptance of private flood insurance policies. These proposed clarifications address mandatory acceptance, discretionary acceptance, and general compliance with the February 2019 private flood insurance final rule. The Agencies solicit public comments on these proposed questions and answers to assist lenders in meeting their regulatory responsibilities.
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