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FDIC | RIN: 3064-AE27 | Publication ID: Spring 2015 |
Title: ●Loans in Areas Having Special Flood Hazards | |
Abstract:
The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, the Farm Credit Administration, and the National Credit Union Administration (collectively, the Agencies) are amending their regulations regarding loans in areas having special flood hazards to implement certain provisions of the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA), which amends some of the changes to the Flood Disaster Protection Act of 1973 mandated by the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters). Specifically, the proposal would establish requirements with respect to the escrow of flood insurance payments, consistent with the changes set forth in HFIAA. The proposal also would incorporate an exemption in HFIAA for certain detached structures from the mandatory flood insurance purchase requirement. The Agencies plan to address in a separate rulemaking other provisions of Biggert-Waters over which the Agencies have jurisdiction that have not been affected by HFIAA.
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Agency: Federal Deposit Insurance Corporation(FDIC) | Priority: Substantive, Nonsignificant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 339 | |
Legal Authority: 12 U.S.C. 1462 12 U.S.C. 1462a 12 U.S.C. 1463 12 U.S.C. 1464 12 U.S.C. 1819(10) ... |
Legal Deadline:
None |
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Timetable:
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Additional Information: Email: Comments@FDIC.gov. Comments submitted must include "Interagency Flood Insurance, 3064-ESCROW" in the subject line. Comments received will be posted without change to http://www.fdic.gov/regulations/laws/federal/, including any personal information provided. | |
Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Information URL: www.fdic.gov/regulations/laws/federal/ | Public Comment URL: www.fdic.gov/regulations/laws/federal/ |
RIN Data Printed in the FR: No | |
Related Agencies: Joint: TREAS/OCC, FRS, FCA, NCUA; | |
Agency Contact: Navid Choudhury Senior Attorney Federal Deposit Insurance Corporation 550 17th Street NW, MB-3071, Washington, DC 20429 Phone:202 898-6526 Email: nchoudhury@fdic.gov John M. Jackwood Acting Chief, Compliance Section Federal Deposit Insurance Corporation 550 17th Street NW, Washington, DC 20429 Phone:202 898-3991 Email: jjackwood@fdic.gov |