The Terrorism Risk Insurance Act was created after 9/11 to serve as a crucial federal backstop for commercial real estate insurers, but an analysis of alternatives to fund the program reveals the continued challenges of measuring and predicting terror risk.
Lawmakers signaled Monday that Congress will likely have a swift and powerful response to revelations that the credit reporting company Equifax was hacked, exposing 143 million people to identity theft.
Citigroup’s struggles with collections on certain types of retail credit card accounts have persisted in the third quarter, but it hopes to contain chargeoffs.
The agency has earmarked all funds from a Hurricane Harvey recovery package for direct relief, despite calls to get more bankers involved in the process. It remains to be seen how the agency will handle the cleanup for Hurricane Irma.
But the Wayzata, Minn., company is not out of legal hot water, as a judge let stand some charges that it violated a provision in the Dodd-Frank Act that prohibits using deceptive practices to sell consumer products.
The Detroit lender developed rotational training programs in auto finance, accounting and technology to help attract and keep promising employees, especially millennials, who had a tendency to bolt.
