The FDIC, Board of Governors of the Federal Reserve System, OCC, the National Credit Union Administration, and the Farm Credit Administration (the Agencies) recently extended the period for public comment on proposed interagency changes regarding flood insurance.
The purpose of this question and answer period is to increase public understanding of the federal flood insurance requirements to improve public compliance with these requirements. This question and answer period involves new proposed answers related to issues such as escrow of flood insurance premiums, exemptions for detached structures and force placement of flood insurance.
This extended question and answer period ends on November 3, 2020. Details regarding comment submission can be found here.