March 24, 2014 – President Obama on Friday signed H.R. 3370, which will implement NAFCU-sought delays in flood insurance premium hikes under the National Flood Insurance Program.The House and Senate passed the bill – which was sponsored by Rep. Michael Grimm, R-N.Y. – earlier this month. The legislation was also championed in the Senate by Sens. Bob Menendez, D-N.J., and Mary Landrieu, D-La.The measure revises the 2012 Biggert-Waters Flood Insurance Reform Act by:
NAFCU wrote lawmakers several times in support of the efforts of H.R. 3370, saying it would lend stability to the program and its participants, as well as the larger housing market.