Trade Groups Call on Congress to Extend NFIP

The American Bankers Association joined 26 other industry trade groups today in a letter to congressional leaders urging them to take action to extend the National Flood Insurance Program, which is scheduled to lapse on Friday. Failing to pass an extension would leave millions of Americans at risk, cause disruption in the thousands of communities that depend on the program and slow down disaster recovery efforts, the groups said.

They added that congress should “extend the program in a manner that would provide continuity and certainty to the millions of policyholders who rely on a functioning NFIP and allow the 116th Congress needed time to shift focus from short-term reauthorizations and build consensus around substantive program reforms.”