Removing Barriers Blog

CUNA Supports Reauthorization of National Flood Insurance Program
Posted May 04, 2017 by CUNA Advocacy

Earlier today, the Senate Committee on Banking, Housing, and Urban Affairs had its second hearing to discuss the Reauthorization of the National Flood Insurance Program (NFIP) – which is set to expire at the end of September.  Prior to the hearing, CUNA sent a letter supporting the Committee’s efforts to reauthorize the Program later this year. 

At the hearing, Chairman Crapo emphasized that the “[t]he NFIP expires at the end of September unless reauthorized by Congress,” but that “[w]orking together, and balancing reforms that protect taxpayers and assist consumers, we can reauthorize the Program on time.” Witnesses included Steve Ellis from Taxpayers for Common Sense, Michael Hecht from the Coalition for Sustainable Flood Insurance, and Larry Larson from the Association for State Floodplain Managers. 

CUNA believes it is vital that flood insurance premiums remain affordable so that families in parts of the country where flood insurance is required are not shut out of the opportunity to own a home.  A strong, sustainable, and affordable NFIP will serve the best interests of our nation’s housing market for years to come, and CUNA will continue to support the reauthorize this vital program.