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TREAS/OCC | RIN: 1557-AD67 | Publication ID: Spring 2019 |
Title: Loans in Areas Having Special Flood Hazards--Private Flood Insurance | |
Abstract:
The OCC, FRB, FDIC, FCA, and NCUA issued a final rule amending 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. The final rule requires regulated lending institutions to accept policies that meet the statutory definition of "private flood insurance" in the Biggert-Waters Act; and permits regulated lending institutions to exercise their discretion to accept flood insurance policies issued by private insurers and plans providing flood coverage issued by mutual aid societies that do not meet the statutory definition of "private flood insurance," subject to certain restrictions. |
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Agency: Department of the Treasury(TREAS) | 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 22 | |
Legal Authority: 12 U.S.C. 93a 12 U.S.C. 1462a 12 U.S.C. 1463 12 U.S.C. 1464 12 U.S.C. 5412(b)(2)(B) 42 U.S.C. 4012a 42 U.S.C. 4104a 42 U.S.C. 4104b 42 U.S.C. 4106 42 U.S.C. 4128 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Information URL: https://www.regulations.gov/docket?D=OCC-2014-0016 | Public Comment URL: https://www.regulations.gov/docket?D=OCC-2014-0016 |
RIN Data Printed in the FR: No | |
Related RINs: Related to 1557-AD84 | |
Agency Contact: Heidi M. Thomas Senior Counsel Department of the Treasury Comptroller of the Currency Chief Counsel's Office, 400 7th Street SW., Washington, DC 20219 Phone:202 649-5490 Email: heidi.thomas@occ.treas.gov Melissa Lisenbee Counsel Department of the Treasury Comptroller of the Currency Chief Counsel's Office, 400 7th Street SW., Washington, DC 20219 Phone:202 649-7392 Email: melissa.lisenbee@occ.treas.gov |