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OCC Bulletin 2019-42
August 27, 2019
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Chief Executive Officers and Compliance Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council1 (FFIEC) adopted revised interagency examination procedures for the Flood Disaster Protection Act (FDPA). The revised procedures reflect the amendments to the regulations regarding loans in areas having special flood hazards to implement the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters Act). The amendments to the regulations were issued by the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the National Credit Union Administration and published in the Federal Register on February 20, 2019.2
This bulletin makes available on the OCC website the revised interagency FDPA examination procedures that reflect the private flood insurance requirements, which are effective July 1, 2019.
The "Flood Disaster Protection Act" booklet of the Comptroller’s Handbook is rescinded with the issuance of the interagency examination procedures. OCC examiners will rely on the interagency procedures. This bulletin also rescinds OCC Bulletin 2017-35, "Flood Disaster Protection Act: Revised Comptroller’s Handbook Booklet."
The interagency examination procedures apply to examinations of all national banks, federal savings associations, and federal branches and agencies of foreign banking organizations.
The FFIEC members developed these examination procedures to promote consistency in the examination process and communication of supervisory expectations. The new regulatory requirements are effective on July 1, 2019. The interagency procedures reflect regulatory provisions that
Please contact Paul R. Reymann, Director for Consumer Compliance Policy, at (202) 649-5470.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy
1 The FFIEC comprises the following six voting members: a member of the Board of Governors of the Federal Reserve System; the Chairman of the Federal Deposit Insurance Corporation; the Director of the Consumer Financial Protection Bureau; the Comptroller of the Currency; the Chairman of the National Credit Union Administration; and the Chairman of the State Liaison Committee.
2 Refer to 84 Fed. Reg. 4953.