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AGENCIES PROPOSE NEW PRIVATE FLOOD INSURANCE Q&AS

On March 11, 2021, the OCC, Board, FDIC, FCA, and NCUA proposed to supplement the Interagency Flood Insurance Questions and Answers with new interagency questions and answers related to the private flood insurance rules. These newly proposed Questions and Answers Regarding Private Flood Insurance are in addition to the  Proposed Interagency Questions and Answers Regarding Flood Insurance that the Agencies released in 2020. In 2020 the Agencies stated in their proposed revisions that since the […]

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REGULATORY DEADLINE REMINDERS

July 1, 2019 is the effective date for two major compliance events. This is a reminder that some of you have a lot of work to complete in the next 20 business days. Mandatory Acceptance of Private Flood Insurance – Starting on Monday July 1, 2019 all financial institutions must be in compliance with the new Mandatory Purchase Requirements for Private Flood Insurance. By that date your policy and procedures must be updated and your […]

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