Joint Release/Agencies Release Proposed Revisions to Interagency Questions and Answers Regarding Flood Insurance — 2020-06-26

Board of Governors of the Federal Reserve System Farm Credit Administration Joint Release Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency Agencies Release Proposed Revisions to Interagency Questions and Answers Regarding Flood Insurance WASHINGTON—Five federal regulatory agencies today requested public comment on new and revised Interagency Questions and Answers Regarding Flood Insurance. The Interagency Questions and Answers, which provide information addressing technical flood insurance-related compliance issues, were last updated in 2011. The agencies are proposing new questions and answers for inclusion in the Interagency Questions and Answers in light of changes to flood insurance requirements under the agencies’ joint rule regarding loans in special flood hazard areas. This rule was promulgated in 2015 to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowner Flood Insurance Affordability Act of 2014.