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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.  

 
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
Timetable:
Action Date FR Cite
NPRM  10/30/2013  78 FR 65108   
NPRM Comment Period End  12/30/2013 
Second NPRM  11/07/2016  81 FR 78063   
Second NPRM Comment Period End  01/06/2017 
Final Rule  02/20/2019  84 FR 5493   
Final Rule Effective  07/01/2019 
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
Special Counsel
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW.,
Washington, DC 20219
Phone:202 649-6286
Email: heidi.thomas@occ.treas.gov

Melissa Lisenbee
Senior Attorney
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