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Financial Institution Letter |
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Flood Insurance: Proposed Revisions to Interagency
Questions and Answers |
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Summary
The FDIC, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, and the Farm Credit Administration (Agencies) are issuing proposed new and revised Interagency Questions and Answers Regarding Flood Insurance (Interagency Questions and Answers). The proposal seeks to incorporate amendments to federal flood insurance laws regarding the escrow of flood insurance premiums, the detached structure exemption, and force placement of insurance into the Interagency Questions and Answers. The document is intended to help lenders meet their responsibilities pursuant to the federal flood insurance laws that were last updated in 2011.
A copy of the Proposed Revisions can be found on the FDIC's website.
Statement of Applicability to Institutions Under $1 Billion in Total Assets
This Financial Institution Letter (FIL) applies to all FDIC-supervised financial institutions
Distribution
FDIC-Supervised Institutions
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