Congress Extends Flood Insurance Program until Nov. 17

Much of the federal government is funded until Nov. 17.

David Baumann


Oct 2



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David Baumann

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David Baumann

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The House and Senate this past weekend passed a Continuing Resolution that keeps much of the federal government funded until Nov. 17 and the National Flood Insurance Program reauthorized until the same date.

The resolution, H.R. 5860, which was signed by President Biden, does not include controversial policy riders, such as credit card interchange policies. The interchange issue could reemerge as Congress considers longer-term funding measures.

This weekend’s Continuing Resolution does not have an impact on the funding for the NCUA and the CFPB, which are funded outside the appropriations process.

CFPB Funding

Ironically, the U.S. Supreme Court is hearing oral arguments on Tuesday over the constitutionality of the CFPB funding scheme. The CFPB is funded by the Federal Reserve. The Community Financial Services Association of America had filed suit challenging that funding process.

The Supreme Court is likely to issue a decision in June and depending on that ruling, the CFPB could then become subject to the annual funding process.

NFIP Details

The Continuing Resolution makes no substantive changes to the NFIP program; it simply extends the program until Nov. 17. Congress has been unable to pass a multi-year NFIP reauthorization bill since 2017. Legislation has been introduced in each Congress but has not reached the floor in either House.

As a result, Congress has had to enact 26 short-term extensions to continue the program. Without those extensions, the authority to issue new flood insurance policies would have expired.


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