Obama Stands By Law Raising Flood Insurance Rates

Law360, New York (January 28, 2014, 8:43 PM EST) -- The Obama administration on Monday stuck up for a 2012 law requiring higher premiums for flood insurance provided under a government-backed program, creating a new setback for legislation that would halt the rate increases just as the Senate voted to take action on the measure.

The Senate on Monday voted to begin debate on S. 1926, the Homeowner Flood Insurance Affordability Act, which would push back the NFIP rate hikes until an affordability study is done, and it would also establish an independent national association for...
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