Obama Signs Bill Easing Flood Insurance Rate Hikes

Law360, New York (March 21, 2014, 6:00 PM EDT) -- President Barack Obama on Friday signed legislation that rolls back dramatic insurance rate hikes required under 2012 reforms to the troubled National Flood Insurance Program, despite the White House's earlier criticism of attempts to limit the premium increases.

Obama added his signature to H.R. 3370, also known as the Homeowner Flood Insurance Affordability Act, a bill that lawmakers introduced following a public outcry over planned rate increases for policyholders in the government's flood insurance program, which plunged into $24 billion in debt to taxpayers after taking...
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