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May 23, 2022

The Adverse Effect of “Mandatory” Flood Insurance on Access to Credit

Kristian Blickle, Katherine Engelman, Theo Linnemann, and João A.C. Santos

The National Flood Insurance Program (NFIP) was designed to reduce household and lender flood-risk exposure and “encourage lending.” In this post, which is based on our related study, we show that in certain situations the program actually limits access to credit, particularly for low-income borrowers—an unintended consequence of this well-intentioned program.

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Posted at 7:00 am in Banks, Climate Change, Household Finance, Inequality | Permalink | Comments (2)

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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