Reuters reports that Representative Barney Frank (D – Mass.) has introduced a bill to extend the National Flood Insurance Program (NFIP) seven months beyond the scheduled September 30, 2008, expiration date to allow lawmakers to iron out “deep disagreements.” Adding …
Efforts to overhaul U.S. financial regulation are seen gathering pace early next year, as a new Congress and administration seek to safeguard public money put at risk by recent rescue measures. The Federal Reserve’s extension of emergency credit to investment …
The fast-spreading U.S. mortgage crisis prompted lawmakers this month to explore problems with municipal bonds, painting a bleak outlook for bond insurers that one official said imposes a “secret Wall Street tax” on state and local taxpayers. Connecticut Attorney General …
The chairman of the House Financial Services Committee called Thursday for Congress to consider creating a “financial services risk regulator” with broad powers across a wide range of financial institutions. Addressing the recent financial turmoil that brought down investment bank …
The fast-spreading U.S. mortgage crisis prompted lawmakers Wednesday to explore problems with municipal bonds, painting a bleak outlook for bond insurers that one official said imposes a “secret Wall Street tax” on state and local taxpayers. Connecticut Attorney General Richard …
The House of Representatives passed H.R. 3959, sponsored by Financial Services Committee Chairman, Barney Frank (D-Mass.), and Rep. Scott Garrett (R-N.J.), legislation that would gradually phase-out some of the subsidies in the National Flood Insurance Program (NFIP). The bill would …
New leaders tackled old issues and the region battled fire and rain. 1. No day at the beach Insurance markets for coastal properties continued to challenge insurers, agents, policymakers and property owners, despite an inactive hurricane season. For the most …
Some East Coast politicians benefitted significantly from the Democratic takeover of Congress as Reps. Barney Frank of Mass. and Rep. Paul Kanjorski of Pa. took leadership positions on committees with direct control over insurance legislation. Frank is chairman of the …
The Bush Administration has reasserted its opposition to a House bill that would extend the federal terrorism insurance program after it expires on Dec. 31, vowing to veto any final measure that differs measurably from the Senate bill. “The Administration …
The Senate today passed the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) of 2007, legislation that will extend the federal terrorism insurance backstop. The current federal terrorism reinsurance program commonly known as the Terrorism Risk Insurance Act (TRIA) is scheduled …
