The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration and the National Credit Union Administration (the Agencies) recently released a final rule offering significant relief and guidance to institutions in connection with accepting private flood insurance for properties located in special flood hazard areas that are subject to the Biggert-Waters Act (the Final Rule). Pursuant to the Final Rule, the Agencies seek to reduce the burden of compliance on institutions and increase the availability of private flood insurance policies by providing broader discretion to institutions as to the policies and plans that can be accepted.    Read the article (PDF)……………………….