Bankowość · 30/10/2013

US Agencies Propose Changes to Flood Insurance Regulations for Loans in High-Risk Areas

The Office of the Comptroller of the Currency, Federal Reserve, FDIC, Farm Credit Administration, and National Credit Union Administration are proposing to update their flood insurance regulations to align with the Biggert-Waters Flood Insurance Reform Act of 2012, which aims to improve the handling of flood insurance payments, private coverage, and force-placed insurance, and to clarify existing regulations and make technical corrections.