Flood Insurance

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  • Waters Floor Statement in Opposition to the 21st Century Flood Reform Act
    Posted in Press Releases on November 14, 2017 | Preview rr
    Tags: Flood Insurance

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following floor statement in opposition to the H.R. 2874, the 21st Century Flood Reform Act: As Prepared for Delivery I rise today in opposition to H.R. 2874, legislation that will make flood insurance more expensive, less available, and less fair for consumers. At the outset, let me just say that I appreciate the time and effort that Chairman Hensarling and Mr. Duffy spent responding to my... Read more

  • Waters Floor Statement on Supplemental Disaster Relief Funding Bill
    Posted in Press Releases on October 12, 2017 | Preview rr
    Tags: Flood Insurance, House Floor

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement from the House floor in support of the supplemental disaster relief funding bill. As Prepared for Delivery Mr. Speaker, I rise today in support of this critical disaster relief funding. In the wake of the destruction that this historic hurricane season has wrought on Texas, Florida, the Virgin Islands, Puerto Rico, and the Gulf Coast, I am very pleased that in addition t... Read more

  • Waters Floor Statement on Republicans’ Misplaced Priorities for Flood Insurance Reform
    Posted in Press Releases on September 27, 2017 | Preview rr
    Tags: Flood Insurance

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement regarding H.R. 3823 on the House floor: As Prepared for Delivery Thank you, Mr. Speaker. I rise today in opposition to this bill, which began as a must-pass reauthorization of the Federal Aviation Administration, but has now become a Christmas tree for unrelated Republican priorities. Puerto Rico is on the brink of a humanitarian crisis following Hurricane Maria that is ... Read more

  • Waters Statement on the 2017 Hurricane Season and the Future of the National Flood Insurance Program
    Posted in Press Releases on September 19, 2017 | Preview rr
    Tags: Flood Insurance, Subcommittee on Housing and Insurance

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued a statement regarding the devastation caused by hurricanes this season, and the news that Congress will need to raise the National Flood Insurance Program’s (NFIP) borrowing authority to pay all of its claims from Hurricanes Harvey and Irma. “As the 2017 hurricane season continues, we must put these storms and their impact on our fellow Americans into perspective. Irma made history with wind... Read more

  • Associated Press: Trump’s 2018 budget raises questions about a “better than ever” Harvey recovery
    Posted in In Case You Missed It on September 5, 2017 | Preview rr
    Tags: Flood Insurance

    President Donald Trump's hiring and budget plans are raising questions about whether he can deliver the "better-than-ever" recovery he's promised after Hurricane Harvey devastated a swath of the U.S. Gulf Coast. Trump has proposed vast budget cuts and leaving some leadership positions unfilled at agencies involved in disaster management. His Republican allies on Capitol Hill proposed spending some of the Federal Emergency Management Agency's disaster money to build a U.S.-Mexico border wall. But... Read more

  • Waters Statement on Hurricane Harvey
    Posted in Press Releases on August 28, 2017 | Preview rr
    Tags: Flood Insurance

    Today, in reaction to the continuing harm and destruction caused by Hurricane Harvey, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The devastation from Hurricane Harvey is overwhelming and my heart goes out to those affected by this terrible storm. Harvey continues to dump unprecedented amounts of rain on Texas. Make no mistake, the flooding taking place now is both historic and unpredictable. The Army Corps of Engineer... Read more

  • Waters Statement on Revised Republican Flood Insurance Bill
    Posted in Press Releases on July 28, 2017 | Preview rr
    Tags: Flood Insurance

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement in response to Committee Republicans’ revised flood insurance legislation: “Though Chairman Hensarling and Committee Republicans have been scrambling to make changes to their flood insurance bill, the affordability challenges facing millions of policyholders remain. The implementation of the Biggert-Waters Act inadvertently led to skyrocketing premiums for homeowners and... Read more

  • Waters Statement in Support of Velázquez Flood Bill to Improve NFIP
    Posted in Press Releases on June 21, 2017 | Preview rr
    Tags: Full Committee, Flood Insurance, Markup

    Today, at the continuation of the House Financial Services Committee markup of seven flood insurance bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement in support of Congresswoman Nydia Velázquez’s (D-NY) bill, H.R. 2875, the “National Flood Insurance Program (NFIP) Administrative Reform Act of 2017:” Thank you, Mr. Chairman. While I am discouraged with the general lack of bipartisanship reflected in the bills we are mar... Read more

  • At Markup of Flood Bills, Dems Offer Amendments to Keep Flood Insurance Affordable and Accessible
    Posted in Press Releases on June 20, 2017 | Preview rr
    Tags: Full Committee, Flood Insurance, Markup

    On the first day of the of the House Financial Services Committee markup of seven flood insurance bills, Committee Democrats fought for the availability and affordability of the National Flood Insurance Program (NFIP). “Democrats will offer amendments to provide the reauthorization language needed to keep the NFIP’s doors open and keep the real estate market from spiraling out of control,” said Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services. “We will al... Read more

  • Waters Opening Statement at Committee Markup of Seven Flood Insurance Bills
    Posted in Press Releases on June 15, 2017 | Preview rr
    Tags: Full Committee, Flood Insurance, Markup

    Today, at a Committee markup of seven flood insurance bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: Thank you, Mr. Chairman. Eight days ago, we gathered in this hearing room to discuss six legislative proposals to reform the National Flood Insurance Program. At that hearing, I once again called for bipartisan solutions to ensure the continued availability and affordability of flood insurance. While I was en... Read more

  • Waters Calls for Bipartisan Reauthorization of the National Flood Insurance Program
    Posted in Press Releases on June 7, 2017 | Preview rr
    Tags: Full Committee, Flood Insurance

    Today, at a full Committee hearing to examine draft legislation to reauthorize the National Flood Insurance Program (NFIP), Congresswoman Maxine Waters (D-CA)¸ Ranking Member of the Committee on Financial Services, urged Committee Members to work on a bipartisan long-term reauthorization package: As Prepared for Delivery Thank you, Mr. Chairman and welcome to all of our witnesses, who are here to discuss draft legislation to reauthorize the National Flood Insurance Program (NFIP). This hearing i... Read more

  • Waters: Trump Budget is Extremely Harmful
    Posted in Press Releases on May 23, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB, Flood Insurance, Budget

    Today, in response to the Trump Administration’s release of its full budget request to Congress for Fiscal Year 2018, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “Donald Trump has once again revealed who he really is, with a cruel and senseless budget that abandons Main Street and the vulnerable. “The Trump budget mirrors efforts by Congressional Republicans to roll back Wall Street reform and take us back to the bad ... Read more

  • Waters Leads Fight to Defend the Flood Insurance Program, Policyholders
    Posted in Press Releases on April 7, 2017 | Preview rr
    Tags: Flood Insurance

    Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, delivered three letters to House appropriators in support of her ongoing effort to fight for those who have fallen victim to natural flood disasters. The letters call for a rejection of any fees on the National Flood Insurance Program’s (NFIP) policyholders in order to pay for President Trump’s U.S.-Mexico border wall, the forgiveness of NFIP’s debt, and increased funding for our nation’s flood maps. In... Read more

  • Waters Opening Statement at Markup of Capital Markets Bills
    Posted in Press Releases on March 9, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, SEC, Flood Insurance, Markup, International

    Today, at a full Committee markup of six legislative proposals relating to our nation’s capital markets, Representative Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman. Today, we will consider a set of legislative proposals designed to improve our nation’s capital markets, which continue to be the envy of the world. One important and long-overdue bill we will consider will provide ... Read more

  • Waters Calls for Bipartisan Reauthorization of The National Flood Insurance Program
    Posted in Press Releases on March 9, 2017 | Preview rr
    Tags: Flood Insurance, Subcommittee on Housing and Insurance

    Today, at a hearing to examine the National Flood Insurance Program (NFIP), Congresswoman Maxine Waters (D-CA)¸ Ranking Member of the Committee on Financial Services, urged Committee Members to swiftly move towards long-term reauthorization, stressing the need for affordable insurance premiums and cancellation of the program’s $24.6 billion debt. As Prepared for Delivery Thank you, Mr. Chairman. Reauthorization of the National Flood Insurance Program (NFIP) is critical. Our housing market has st... Read more

  • GAO Report Underscores Waters’ Criticism of FEMA’s Compensation Methodology
    Posted in Press Releases on January 9, 2017 | Preview rr
    Tags: Flood Insurance, GAO

    Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement in response to a report published today by the U.S. Government Accountability Office (GAO) discussing the compensation paid to Write-Your-Own (WYO) companies that administer to the National Flood Insurance Program (NFIP). In 2014, Ranking Member Waters called on the GAO to study federal payments to WYO insurers and how they relate to actual expenses incurred by those insurers... Read more

  • ICYMI: Rep. Waters Op-Ed on Forgiving the NFIP Debt
    Posted in In Case You Missed It on October 13, 2016 | Preview rr
    Tags: Flood Insurance

    In a guest column in the Baton Rouge Advocate this week, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, discussed the need for Congress to erase the National Flood Insurance Program’s $23 billion debt so that homeowners and businesses can rely on an affordable and sustainable program to protect them financial in the face of disaster: “I am calling on Congress to forgive the NFIP’s debt so that as we work to reauthorize the program in 2017, we can start... Read more

  • Democrats Reiterate Call for Field Hearing on National Flood Insurance Program
    Posted in Press Releases on September 14, 2016 | Preview rr
    Tags: Flood Insurance

    Today, Reps. Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services; Emanuel Cleaver (D-MO), Ranking Member of the Subcommittee on Housing and Insurance; and Cedric Richmond (D-LA), reiterated their call for Committee Republicans to hold a field hearing in Baton Rouge, La., so that Members can fully understand the devastation from the recent flooding in the area and issues surrounding the National Flood Insurance Program (NFIP) ahead of its reauthorization. The lawmakers sen... Read more

  • Rep. Waters Tours Flood Damage in Baton Rouge, Louisiana
    Posted in Press Releases on August 30, 2016 | Preview rr
    Tags: Flood Insurance

    In the wake of historic flooding in the Baton Rouge, La., area, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services and long-time friend to the Louisiana area, visited the disaster-affected region. Rep. Waters met with local officials as well as affected residents to review the damage, assess the federal government’s response thus far, and understand key issues ahead of the need to reauthorize the National Flood Insurance Program (NFIP) by September 30, 2017... Read more

  • Waters, Cleaver, Richmond Call for Field Hearing on the National Flood Insurance Program
    Posted in Press Releases on August 25, 2016 | Preview rr
    Tags: Flood Insurance

    Today, in the face of the historic flooding in Louisiana, a trio of House Democratic lawmakers called on Republican leadership of the Financial Services Committee to hold a field hearing in Baton Rouge, Louisiana, to examine the government’s response to the recent flooding in that area, and to better inform the Committee as it prepares to consider the reauthorization of the National Flood Insurance Program (NFIP), which is set to expire on September 30, 2017. In the letter to Committee Chairman ... Read more

  • Waters Calls on President Obama to Waive the Cost Sharing Requirements for Disaster Assistance on Flooded Areas in Louisiana
    Posted in Press Releases on August 23, 2016 | Preview rr
    Tags: Flood Insurance

    Following historic flooding in Louisiana and the President’s disaster declaration leaving open the possibility that the state may have to cover 25 percent of public assistance funds, Congresswoman Maxine Waters (D – CA), Ranking Member of the Committee on Financial Services sent a letter to President Obama and called on him to use his authority to provide relief for the state and require the federal government to pay for 100 percent of public assistance. Due to the low take up rates of the Natio... Read more

  • Congresswoman Waters Urges Rethinking Natural Disaster Assistance in the Wake of Baton Rouge Flooding
    Posted in Press Releases on August 19, 2016 | Preview rr
    Tags: Flood Insurance

    Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement in the wake of historic flooding in Baton Rouge, Louisiana: “As the devastating flooding in Baton Rouge, Louisiana demonstrates, too many Americans receive outdated and incorrect signals from the National Flood Insurance Program (NFIP). Only a small fraction of residents who found themselves in harm's way were considered to be in a flood zone and therefore most did not purcha... Read more

  • Pallone, Waters and 21 Colleagues Demand FEMA Provide Oversight of National Flood Insurance Program
    Posted in Press Releases on July 8, 2016 | Preview rr
    Tags: Flood Insurance

    Today, Congressman Frank Pallone, Jr. (NJ-06), Congresswoman Maxine Waters (CA-43), and 21 of their colleagues sent a bipartisan letter asking that FEMA fulfill its legal obligation to provide oversight of the private insurance companies that participate in the National Flood Insurance Program (NFIP). In the wake of Superstorm Sandy and other recent disasters, FEMA and NFIP have faced accusations of incompetence and fraud. A recent PBS Frontline documentary entitled, “The Business of Disaster” e... Read more

  • ICYMI: Frontline and NPR Investigate Flood Insurance Firms’ Compensation
    Posted in In Case You Missed It on May 25, 2016 | Preview rr
    Tags: Flood Insurance, GAO

    On a cold rainy day last fall, dozens of people gathered in a plaza across the street from New Jersey's state Capitol. They held press conferences and slept overnight in lawn chairs. Everyone had come to make the same point: They'd made it through Superstorm Sandy, which hit the shores of New Jersey and New York in October 2012. But three years later, many hadn't made it home. Doug Quinn, a 51-year-old from Toms River, N.J., had been in the plaza for two days. "I should be at home in my house an... Read more

  • Waters Responds to Flood Insurance Rate-Setting Report
    Posted in Press Releases on April 18, 2016 | Preview rr
    Tags: Flood Insurance

    Ranking Member Maxine Waters (D-CA) responded to a Government Accountability Office (GAO) report released today on the Federal Emergency Management Agency’s (FEMA) rate-setting methods under the National Flood Insurance Program (NFIP) and the Agency’s progress in ensuring that full-risk rates accurately reflect flood risk. Waters requested the report in 2014 when Congress was working to address the unintended consequences of premium increases under the 2012 Biggert-Waters Flood Insurance Reform ... Read more



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