Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Flood insurance COBRA extensions lurch toward vote
WASHINGTON (4/14/10)--Following positive results in a Monday cloture vote, H.R. 4851, the Continuing Extension Act of 2010, needs only Senate approval to be sent to President Barack Obama for full approval. The legislation, if approved, would extend authorization for the National Flood Insurance Program (NFIP) and continue federal subsidies to COBRA health insurance recipients through April 30. Federal unemployment insurance would be extended until May 5. NFIP is important to cedit unions because the mortgages they write for properties in a floodplain are required to have flood insurance. Since flood insurance is unavailable in many parts of the country, the NFIP is an important resource to credit unions and other lenders. Congress did not take any action before its recently concluded spring recess began, and the NFIP and other programs lapsed on March 29. The NFIP cannot issue new flood insurance policies, increase coverage on existing policies, or issue renewal policies until the Congress restores NFIP authority. A full Senate vote on H.R. 4851 is expected to take place later this week. If amended by the Senate, the bill would return to the House for another vote.


RSS print
News Now LiveWire
For the last 75 years, even in the most difficult of times, Mill Town #CU has been there for the community it serves. Read #NewsNow Tues.
25 minutes ago
The 1st vid shows how consumer can become victim and, advice to those who think they've been targeted. http://t.co/hr9VHpzEze
4 hours ago
.@TheNCUA has released two videos designed to raise awareness of elder financial abuse. http://t.co/iddSxr7H40
4 hours ago
Celebrate #100MM with @MDDCCUA1 at Orioles v Blue Jays tonight at Camden Yards
4 hours ago
The At Home In Lawrence mortgage program from @MetroCU is designed to help revitalize Lawrence, Mass.
5 hours ago