On March 11, 2021, the OCC and several other financial regulatory agencies issued new interagency questions and answers pertaining to private flood insurance requirements.

The new Q&A addresses mandatory and discretionary acceptance of private flood insurance policies as well as general compliance issues surrounding the private flood insurance requirements.

The regulatory agencies will accept comments on the new interagency Q&A for 60 days from the date of the publication in the Federal Register.

For additional information and details, please see the full bulletin from the OCC here.