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For Immediate Release
July 31, 2018
ABA Media Contact: Blair Bernstein
(202) 663-5468
Follow us on Twitter: @ABABanker

ABA Statement on Senate Extension of National Flood Insurance Program

By Rob Nichols, ABA president and CEO

​“ABA applauds the Senate for voting to ensure the continuity of the National Flood Insurance Program with a four-month reauthorization. Avoiding a lapse in program authority will protect borrowers from closing delays, additional costs and other complications.
“We now urge lawmakers to turn their attention to a long-term reauthorization of the program that includes necessary reforms to ensure sustainability and availability in the future. We look forward to working with lawmakers to address these critically important issues over the next four months.”
The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend nearly $10 trillion in loans.