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At press time, the House Financial Services Committee was close to passing a bill extending the National Flood Insurance Program for five years and three bills to make changes to the structure of the Bureau of Consumer Financial Protection.

CUNA and NAFCU supported the flood insurance measure and backed an amendment by Rep. Frank Lucas (R-Okla.) that would clarify existing law to allow lenders to collect premiums for force-placed flood insurance during the 45-day notification period if a borrower allows the policy to lapse. The amendment passed on a voice vote.

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