Barney Frank News

Rep. Frank Defends JPMorgan Against Lawsuit Over Bear Stearns

Democratic Congressman Barney Frank defended the nation’s largest bank on Monday, saying in a statement that the government was wrong to go after JPMorgan Chase & Co. for the alleged misdeeds of Bear Stearns. Frank, the co-author of the 2010 …

Bill Would Bar Insurance for Clawbacks

Executives at financial firms would no longer be able to buy insurance to protect themselves against compensation clawbacks or civil penalties under legislation introduced on Wednesday by U.S. Representative Barney Frank. The bill, Frank said, is aimed at protecting the …

Retiring Rep. Frank Says Wall Street Reforms Safe Without Him

U.S. Representative Barney Frank hit back at speculation Tuesday that his departure next year would undermine the sweeping Wall Street reform law he sponsored. Frank announced Monday he would not seek another term, prompting analysts to wonder how the landmark …

Insurance Groups React to Rep. Barney Frank’s Retirement Announcement

A number of insurance associations have issued statements recognizing the positive work the retiring U.S. Rep. Barney Frank (D-Mass.) has accomplished for the industry. Frank, 71, announced this week that he will not seek re-election in 2012, citing as a …

U.S. Rep. Barney Frank of Massachusetts Won’t Seek Re-election

U.S. Democratic Representative Barney Frank, who helped to craft the landmark overhaul of financial regulations that bears his name, will not seek re-election in 2012, Democratic aides said Monday. Frank, one of the most outspoken liberals in Congress, will hold …

Congressional Gridlock on Financial Reforms Expected After Elections

If Republicans make big gains in U.S. Congressional elections on Tuesday, as expected, Wall Street and big banks will have sweet, but incomplete, revenge on Democrats who drove through sweeping financial reforms against industry opposition. The likeliest outcome of Democrats …

Declarations

Pricing Worries Persist “There are clear concerns surrounding pricing in this soft P/C insurance market. And, there appear to be indications that this market will persist over the nearer-term.” —Scott Marcello, of KPMG, which recently released a survey showing that …

House Expected to Go Along with 1 Year Flood Insurance Extension

Congress is on track to temporarily extend within days a troubled program that insures millions of U.S. homes and businesses against floods, with another push for a broad overhaul looking likely next year. The Senate on Tuesday approved an extension …

Senate Panel to Hear Extending Flood Insurance Program This Week

The National Flood Insurance Program (NFIP) is set to expire on Sept. 30, just as the 2010 Atlantic Hurricane Season reaches its height. The House has already passed an extension, while a Senate panel is slated to hear a bill …

Agents Applaud House Passage of Flood Insurance Program Extension

The U.S. House of Representatives has a measure extending the federal flood insurance program for five years. The bill, H.R. 5114, the “Flood Insurance Reform Priorities Act of 2010,” sponsored by Rep. Maxine Waters (D-Calif.) and Rep. Barney Frank (D-Mass.), …