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Trump administration puts stop to new flood insurance policies

December 27, 2018 4:30 PM
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WASHINGTON (Reuters) - The Trump administration has decided it cannot authorize new flood insurance policies, citing the partial shutdown of the federal government due to a budget impasse in Congress and potentially putting thousands of home sales in limbo.

The Federal Emergency Management Agency (FEMA), which oversees a federal program that insures about 5 million homes and businesses, on Wednesday posted a notice on its website that the program will not be able to “issue new contracts for flood insurance during a lapse in authority unless Congress pa...

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