Lawmakers are beginning to look more closely at the impact of a hike in federal flood insurance premiums set to go into effect next month, which some bankers warn could topple the still weakened real estate market in certain regions.
The Senate Banking Committee will host a hearing on Wednesday to examine the effects of the Biggert-Waters Flood Insurance Act of 2012, which eliminated grandfather clauses that, until now, prevented premiums from rising for some properties.
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