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Friday, January 4, 2013

Congress Approves Increase to NFIP Borrowing Authority

The ABIA and ABA applaud Congress' approval of H.R. 41, which increases the National Flood Insurance Program's (NFIP) borrowing authority by $9.7 billion. Due to the high cost of Superstorm Sandy, the NFIP would have run out of funds next week if Congress had not passed this bill. It was passed with strong bi-partisian support.

Read the Joint ABIA/ABA Press Release.