NAFCU urged U.S. Senate leadership Friday to support efforts to delay the National Flood Insurance Program premium increases starting to take effect.
"NAFCU believes such increases should be delayed until at least such time as the Federal Emergency Management Agency (FEMA) completes its affordability impact study and Congress is able to review the findings," said NAFCU Vice President of Legislative Affairs Brad Thaler in a letter to Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.).
"Failure to act in this regard could mean that premiums will skyrocket for many Americans struggling in these uncertain times. Furthermore, various local housing markets could face drastic negative impacts," he added in the letter.
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