September 20, 2010
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 …
July 16, 2010
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.), …
July 5, 2010
Don’t Text, Just Drive “Txt Back L8R” —Billboards going up around Michigan are reminding drivers to hold off on text messaging. The Michigan Office of Highway Safety Planning said that the billboards in major metropolitan areas will carry the phrase …
June 25, 2010
U.S. lawmakers hammered out a historic overhaul of financial regulations as dawn broke over the nation’s capital Friday, handing President Barack Obama a major domestic victory on the eve of a global summit devoted to financial reform. In a marathon …
May 21, 2010
The U.S. Senate approved a sweeping Wall Street reform bill Thursday night, capping months of wrangling over the biggest overhaul of financial regulation since the 1930s. By a vote of 59-39, the Senate approved S. 3217, the “Restoring America’s Financial …
May 10, 2010
House Financial Services Committee Chairman Barney Frank, D-Mass., has introduced legislation extending the federal flood insurance program from its current May 31 deadline through September 30, 2010. Frank’s bill would again give Congress more time to address broader reforms and …
March 10, 2010
Two House subcommittees have scheduled a joint hearing today on ways to address homeowners insurance costs in disaster-prone communities, an issue that has some environmentalists, taxpayer groups and insurers standing together. Testimony at today’s hearing will revisit the Homeowners Defense …
March 9, 2010
The Association of Bermuda Insurers and Reinsurers (ABIR) has filed an opposition to HR 2555 which, the Association warns would “replace private sector risk bearing capital with government reinsurance and government guarantees of state debt.” In a letter addressed to …
January 28, 2010
Wall Street executives welcomed U.S. President Barack Obama’s plan to create jobs and a softening of his attack on banks, but questioned on Thursday whether proposals in his State of the Union address would become law. Obama pushed job creation …
January 15, 2010
U.S. Treasury Secretary Timothy Geithner said Thursday the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments made to banks. In his …