For Immediate Release
November 14, 2017
ABA Media Contact: Blair Bernstein
(202) 663-5468
Follow us on Twitter: @ABABankers

ABA Applauds House Passage of 21st Century Flood Reform Act

By Rob Nichols, ABA president and CEO

“We applaud the House for passing the 21st Century Flood Reform Act, legislation to reform and reauthorize the National Flood Insurance Program. We strongly support a long-term reauthorization of the National Flood Insurance Program, and believe this bill makes appropriate and necessary reforms to address the program’s sustainability, affordability and availability. The five-year reauthorization included in the legislation will ensure that the program is reliably available for borrowers seeking to purchase homes in special flood hazard areas where purchase of flood insurance is mandatory. 

“We look forward to working with lawmakers in the Senate to move this much-needed legislation forward.”

​###

​The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, midsize, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend more than $9 trillion in loans.​