Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
House Lawmakers Urge Senate Action On Flood Insurance Rate Hikes
WASHINGTON (10/1/13)--Seventy-three members of the U.S. House--representing at least 23 states and both sides of the aisle--urged the Senate to follow in House footsteps and approve legislation that would give relief to National Flood Insurance Program policyholders who face steep increases in rates today.
 
The House lawmakers urged Senate leadership to add a provision to any appropriate legislative vehicle--"including legislation used to complete the appropriations process for the 2014 fiscal year"--to address an unintended consequence of a 2012 bill that could bring sharp payment increases to more than 20% of policyholders.
 
The House letter noted that in July that chamber adopted an amendment to the FY14 Homeland Security Appropriations Act to shield certain flood insurance policyholders from excessive rate increases triggered by Federal Emergency Management Agency flood insurance rate map changes.
 
"The amendment received broad bipartisan support with over 280 House members voting in favor of the provision. This is a positive step toward providing a comprehensive solution to the affordability challenges plaguing the National Flood Insurance Program," the House letter noted.

Use the resouce link to access the lawmakers' letter.


RSS print
News Now LiveWire
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
4 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
5 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
6 hours ago
Children in foster care face higher risk of identity theft via @NBCNews http://t.co/Dif0hCfBdA
6 hours ago
.@Cornerstone_CUL's leadership conference includes food drive for San Antonio food bank http://t.co/h2O8O4TxuD
7 hours ago