Federal Regulatory Agencies Request Comment on Proposed Flood Insurance Rule


Federal Reserve Bank of San Francisco

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October 18, 2013

Five federal regulatory agencies are issuing a joint notice of proposed rulemaking to amend regulations pertaining to loans secured by properties located in special flood hazard areas. The proposed rule would implement certain provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters) with respect to private flood insurance, the escrow of flood insurance payments, and the forced-placement of flood insurance.