CA 16-1:
Revised Interagency Examination Procedures for the Flood Disaster Protection Act
OF THE FEDERAL RESERVE SYSTEM
WASHINGTON, D.C. 20551
DIVISION OF CONSUMER
AND COMMUNITY AFFAIRS
April 7, 2016
TO THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS SECTIONS
Revised Interagency Examination Procedures for the Flood Disaster Protection Act
The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently developed the attached interagency examination procedures for the Flood Disaster Protection Act (FDPA). These revised procedures supersede the FDPA interagency examination procedures transmitted with CA 97-1.
The attached procedures reflect a July 2015 interagency rulemaking addressing force placement of flood insurance, escrow of flood insurance premiums and fees, and the exemption to the mandatory purchase of flood insurance requirement for certain detached structures. Additionally, these examination procedures also reflect edits to clarify requirements and improve readability.
If you have any questions, please contact Lanette Meister, Senior Supervisory Consumer Financial Services Analyst, at (202) 452-2705, or Amy Henderson, Managing Counsel, at (202) 452-3140. In addition, questions may be sent via the Board’s public website.[1]
signed by
Eric S. Belsky
Director
Division of Consumer
and Community Affairs
CA 97-1 “Revised examination procedures which reflect changes in Regulation H, the Flood Disaster Protection Act” (June 19, 1997)