Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
60-day NFIP extension awaits presidents signature
WASHINGTON (5/31/12)--Legislation that would extend the National Flood Insurance Program (NFIP) for 60 days needs only President Barack Obama's signature to become law after the U.S. House passed the extension Wednesday afternoon.

The House bill, H.R. 5740, passed on a 402 to 18 vote. A Senate version of the 60-day extension legislation passed last week.

The program is set to expire today.

Legislation that would extend the NFIP for five years has been approved in the House and by the Senate Banking Committee. House and Senate members have both called for a long-term extension of the NFIP program, and for aspects of the program to be reformed.

The Credit Union National Association (CUNA) has urged for the NFIP to be extended or reformed, as credit unions and other lenders cannot write certain mortgages without NFIP coverage. CUNA this year  also joined a coalition of associations representing homebuilders, the insurance industry, other financial institutions, brokers, and others to ask Congress to act on NFIP issues.


RSS





print
News Now LiveWire
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 Day ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
1 Day ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
1 Day ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
1 Day ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
16 minutes ago