Bankowość · 06/07/1995

Regulations for Loans in Special Flood Hazard Areas to be Strengthened

The OCC, Board, FDIC, OTS, and NCUA are amending their regulations to require depository institutions to use the Standard Flood Hazard Determination Form to determine if real property offered as collateral for a loan is located in a special flood hazard area, while the FCA is adopting a similar requirement in new regulations, developed by FEMA in consultation with federal entities and other agencies.