Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
N.Y. Regulator Issues ‘Cease and Desist’ Order to Car-Sharing Firm RelayRides
May 16 2013 // New York’s top financial and insurance regulator on Wednesday ordered the peer-to-peer car-sharing service firm RelayRides to cease and desist what the regulators called the company’s “repeated false...
Hudson Insurance Group Now Writing Excess Business in New York
May 15 2013 // Hudson Insurance Group, the U.S. Insurance Division of Odyssey Re Holdings Corp. has received approval from the Excess Line Association of New York to write excess line business in the State of New York through Hudson...
8 Indicted in New York Over $2M Staged Auto Accident Conspiracy
May 14 2013 // New York authorities indicted eight defendants last week with mail fraud and conspiracy to commit mail fraud in connection with a scheme to defraud multiple insurance companies. According to the indictment, these...
Former New York Governors Tell AG: Drop Greenberg Suit
May 13 2013 // In an opinion piece published in today’s Wall Street Journal, two former New York governors are urging the New York Attorney General to stop the pursuit of Maurice “Hank” Greenberg in a case tied to...
New York Senate OKs Legislative Package to Fight Auto Insurance Fraud
May 10 2013 // The New York State Senate approved three bills that aim to cut down on auto insurance scams by increasing penalties for those who commit or assist in the fraud and by giving more flexibility to insurance companies to...
New York AG May Follow Greenberg Case, Drop Claims Against BofA Over Merrill
May 10 2013 // Last month, New York Attorney General Eric Schneiderman withdrew claims for up to $6 billion in damages against former AIG chief Hank Greenberg. Now, another big case – against Bank of America over its acquisition of...
$45 Million Global Cyber Bank Theft: Who Pays the Losses?
May 10 2013 // In one of the biggest ever bank heists, a global cyber crime ring stole $45 million from two Middle Eastern banks by hacking into credit card processing firms and withdrawing money from ATMs in 27 countries, U.S....
Judge: U.S. Can Sue Bank of America Over Toxic Mortgages Under FIRREA
May 8 2013 // A federal judge ruled on Wednesday that the United States can pursue parts of a civil lawsuit against Bank of America Corp. over its sale of toxic mortgages to Fannie Mae and Freddie Mac, boosting a largely untested legal...
N.Y. Gov. Cuomo’s Administration Says ‘No Timetable’ on Fracking Decision
May 8 2013 // Months after New York Gov. Andrew Cuomo’s administration promised a decision “within weeks” on whether to allow hydraulic fracturing for natural gas, it now says there’s “no timetable for a...
XL Group Expands Political Risk Team in New York
May 8 2013 // XL Group added two new members to its Political Risk and Trade Credit (PRTC) business. XL appointed Mena Cammett as senior risk analyst and Dane Mahoney as risk analyst. Both are based in New York and report to Rafael...
AIG May Pursue Fraud Case vs. BofA over Countrywide
May 7 2013 // American International Group Inc. may pursue a lawsuit accusing Bank of America Corp.’s Countrywide unit of causing billions of dollars of losses by fraudulently inducing it to buy risky residential mortgage-backed...
Ongoing Dry Weather Raising New York Wildfire Danger
May 7 2013 // New York conservation officials say continuing dry weather has raised the danger of wildfires, advising rural and suburban residents that all residential brush burning is prohibited during the usually high fire risk period...
MBIA, Bank of America Reach $1.6 Billion Settlement
May 7 2013 // Bank of America Corp. has agreed to pay $1.6 billion in cash to MBIA Inc. and will receive the right to buy a 4.9 percent stake in the bond insurer to resolve long-running litigation, the companies said on Monday. Bank of...
New York Mountain Town Awaits Hurricane Relief, 20 Months Later
May 6 2013 // Rebecca Hoskins poked through the debris in her flood-wrecked house: a TV here, a light fixture there. Someone had been in and taken down the curtains. She blinked back a tear. It was a crisp early spring day and her first...
Sandy-Struck New Yorkers Seek Home Buyouts
May 6 2013 // Joseph Szczesny’s modest Staten Island home in New York was inundated when Superstorm Sandy slammed into the U.S. East Coast in October. Now six months later, the 63-year-old bridge repairman and his fiance are all...
States Drop Challenge to $8.5B Bank of America Deal; AIG Still Opposes
May 6 2013 // The New York and Delaware attorneys general and the U.S. housing regulator on Friday dropped their objections to Bank of America Corp.’s proposed $8.5 billion settlement with investors in Countrywide mortgage-backed...
New York Reaches Settlement With QBE, Assurant
May 6 2013 // New York officials announced on April 18 that a New York State Department of Financial Services (DFS) investigation produced a settlement with a major “force-placed” insurer QBE. The settlement with QBE, the...
Over 90% of New Jersey/New York Sandy Claims Settled
May 6 2013 // Insurance regulators in New Jersey and New York — the two states hardest-hit by Superstorm Sandy — reported that as of April 19, insurers have settled 93 percent of the claims they received in the wake of Sandy,...
25 New York Gas Stations Settle Post-Sandy Price-Gouging Claims
May 3 2013 // Twenty-five gas stations have settled price-gouging claims made against them immediately after Superstorm Sandy hit New York, state Attorney General Eric Schneiderman announced Thursday. The stations settled for a total of...
New York Drop of Damages Claim Against Greenberg Avoids Test of AG’s Power
May 3 2013 // When New York Attorney General Eric Schneiderman gave up a claim for damages against former AIG chief Hank Greenberg, he also likely neutralized a long-awaited challenge to his office’s power. New York’s...
