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OCC Updates Flood Disaster Protection Act Booklet Of Comptroller’s Handbook

The Office of the Comptroller of the Currency (OCC) issued a revised Flood Disaster Protection Act (FDPA) booklet of the Comptroller’s Handbook.   The revised booklet replaces the prior version dated May 1999.

The FDPA booklet applies to all national banks, federal savings associations, and federal branches and agencies of foreign banks (collectively, banks) and covers changes to the flood insurance requirements resulting from recent amendments to the Flood Disaster Protection Act and flood insurance regulations (12 CFR 22), and provides other clarifying changes.

Changes include:

  • Exemption for certain detached structures from the mandatory purchase requirements;
  • Escrow requirements for flood insurance premiums and fees for any loan secured by residential real estate or a mobile home that is made, increased, extended, or renewed on or after January 1, 2016;
  • Amendments related to the force placement of flood insurance; and
  • Examination procedures to determine compliance with the aforementioned criteria.

For complete details on the revised handbook booklet please review OCC Bulletin located here:

Proctor will continue to monitor regulatory requirements and will provide updates as they develop.