WASHINGTON - Members of the House Financial Services Committee, including the committee's ranking Democrat, Rep. Barney Frank (Mass.) gave themselves a pat on the back for approving a bill that reauthorizes and reforms the National Flood Insurance Program. H.R. 253, The Two Floods and You Are Out of the Taxpayer's Pocket Act was approved by a voice vote. The bill ensures the availability of flood insurance while reducing the amount of money spent on frequently flooded properties. Frank urged the Senate "to move quickly in a similar direction so we can adopt an extension on the National Flood Insurance Program that is fiscally responsible before the current extension expires. I believe our committee will be very resistant to any further extension of an unreformed program."
House Financial Services Committee Members Pass Flood Insurance Legislation
Want the latest credit union news?
Sign up for our free newsletter today! All the breaking credit union news and information you need to make the right decision for your credit union delivered to your inbox. For free!
Thanks for subscribing, you will start receiving the Daily News Alert tomorrow!