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FDIC | RIN: 3064-AE50 | Publication ID: Fall 2018 |
Title: Loans in Areas Having Special Flood Hazards--Private Flood Insurance | |
Abstract:
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the National Credit Union Administration have issued a new proposal to amend their regulations regarding loans in areas having special flood hazards to implement the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. Specifically, the rule would require regulated lending institutions to accept policies that meet the statutory definition of private flood insurance in the Biggert-Waters Act and permit regulated lending institutions to accept flood insurance provided by private insurers that does not meet the statutory definition of private flood insurance on a discretionary basis, subject to certain restrictions. |
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Agency: Federal Deposit Insurance Corporation(FDIC) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
EO 13771 Designation: Independent agency | |
CFR Citation: 12 CFR 339 | |
Legal Authority: 12 U.S.C. 1462a 12 U.S.C. 1819 (Tenth) 12 U.S.C. 5412(b)(2)(C) 42 U.S.C. 4012a 12 U.S.C. 1464 ... |
Legal Deadline:
None |
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Timetable:
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Additional Information: Comments submitted must include FDIC (3064-AE50) and Loans in Areas Having Special Flood Hazards--Private Flood Insurance. Comments received will be posted without change 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/propose.html | Public Comment URL: www.fdic.gov/regulations/laws/federal/propose.html |
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 |