Flood insurance

Lawmakers and industry groups were caught off guard when FEMA said it wouldn't issue flood insurance policies during the government shutdown, despite an extension passed last week.

As Congress moves closer to its Dec. 21 deadline to keep the government funded, the outlook for more financial services regulatory relief continues to worsen.

Reps. Lacy Clay and Emanuel Cleaver, both from Missouri, have shown interest in running the panel that could be a focal point in efforts to reform Fannie Mae and Freddie Mac.

Lawmakers have had to extend the program eight times since October 2017, as Congress has been unable to pass broader reforms.

Lawmakers this week are expected to consider Kathy Kraninger's nomination to the CFPB along with reauthorization of the National Flood Insurance Program.

Lawmakers authorized a four-month extension less than a day before the program was set to expire.

Lawmakers authorized a four-month extension less than a day before the program was set to expire.

With the program set to expire July 31, the House bill will have to be reconciled with Senate legislation that includes a longer extension.

Reps. Ed Royce, R-Calif., and Earl Blumenauer, D-Ore., introduced a bipartisan package of legislation Tuesday to extend the National Flood Insurance Program through Nov. 30.

Once again, congressional inaction on reauthorizing the National Flood Insurance Program is prompting concerns about what a lapse in coverage could mean for loan closings.