For those of you that keep an eye on the never-ending saga of the National Flood Insurance Program (NFIP), we have some good news, some bad news and some kind of good news.
In case you missed it, the NFIP was set to expire today (May 31st); however, yesterday the House approved an extension to fund the NFIP (good news) … for two weeks (bad news). So, they have until June 14th to come up with another plan.
The kind of good news is that the Senate does have a disaster relief package in the works which, if approved, will extend the NFIP for six months. It’s not a long-term solution but we’ll have to take what we can get.
As always, stay tuned!!
Want to know more about Flood Insurance check out – https://www.bankerscompliance.com/banking-regulations-compliance-services/reviews-2/flood/