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The Buffalo, N.Y., bank will pay a $546,000 penalty, which will be passed on to the National Flood Insurance Program to help offset costs.October 15
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For decades lawmakers have ignored broad structural flaws in the National Flood Insurance Program, which underpins millions of home mortgages. And the problem is only getting worse.September 23
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The GOP is unlikely to discuss much policy that affects financial services this week during its national convention, though there could be remarks addressing controversial changes to the U.S. Postal Service.August 24
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The OCC said Citigroup's main bank subsidiary violated the Flood Disaster Protection Act by not ensuring that borrowers with homes in flood hazard areas had insurance coverage.January 21
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The Mass.-based institution, which recently saw a slight dip in noninterest income, will provide a variety of P&C products for members and nonmembers.January 6
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Bankers had worried about Rep. Maxine Waters' control of the Financial Services Committee, but many now say the Democrat’s working relationship with the panel’s top Republican is refreshing.November 14
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A group of 64 House lawmakers is pushing congressional leadership to incorporate premium caps and address a new methodology for assessing risk in flood insurance reform legislation.November 1
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Wisconsin Republican Sean Duffy routinely pushed to restructure the Consumer Financial Protection Bureau and authored a bill to reform the flood insurance program.August 26
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Recent legislation to lower auto insurance premiums in the Wolverine State could cut into noninterest income, but many institutions are still unclear on how much of a hit they’ll take.August 23
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Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee.July 16
