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ABA: The American Bankers Association
Compliance News

Congress Averts NFIP Lapse

With authorization for the National Flood Insurance Program set to expire at midnight on November 30, both houses of Congress passed a seven-day extension of the program through December 7. The Senate also passed a six-month extension bill. A longer-term NFIP reauthorization is expected to be attached to a spending bill that must be passed by December 7 to keep the government open. ABA continues to advocate for a long-term NFIP reauthorization that would provide greater certainty to the mortgage market.