News Topic: Flood insurance
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‘Not a lot of momentum’ to reform outdated flood insurance program
Regulators omit climate change from updated flood insurance guidance
Lenders should do more to alert homeowners of flood risks, lawmakers say
What could be in store for banks after Biden climate change order
Senators still can't find common ground on flood insurance reform
M&T Bank fined for flood insurance violations
The Buffalo, N.Y., bank will pay $546,000 penalty, which will be passed on to the National Flood Insurance Program to help offset costs. ... Read full article
Why won't Congress fix flood insurance?
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. ... Read full article
Citibank fined nearly $18 million for flood insurance violations
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. ... Read full article
In partisan D.C., House banking panel flips the script
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. ... Read full article
Dozens of lawmakers urge more flood insurance reforms
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. ... Read full article
Sean Duffy, leading GOP voice on House banking panel, to resign
Wisconsin Republican Sean Duffy routinely pushed to restructure the Consumer Financial Protection Bureau and authored a bill to reform the flood insurance program. ... Read full article
Lawmakers unveil competing flood insurance bill
Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee. ... Read full article
Consumers pounce on 4% mortgages; What’s in a name?
Lenders should get a boost from refinances and purchase loans; BB&T and SunTrust Banks’ name choice questioned. ... Read full article
House poised to advance flood insurance reform, beneficial owner rules
Bills to fix the National Flood Insurance Program and combat the money-laundering risks from shell companies enjoyed bipartisan support during a House Financial Services Committee debate. ... Read full article
‘Epic’ flooding forces ag banks to lean on farm agency
Lenders are turning to the Farm Service Agency to backstop more loans as their Midwestern customers are beset by flooding in addition to the U.S. trade war with China and volatile crop prices. Can the FSA meet the increased demand? ... Read full article
Congress extends national flood insurance program by two weeks
Congress extended the National Flood Insurance Program through June 14, preventing the federal initiative from expiring on Saturday. ... Read full article
House lawmakers still divided on flood insurance reforms
The House Financial Services Committee debated legislation Wednesday to reform and reauthorize the National Flood Insurance Program, but no clear solution emerged. ... Read full article
House banking panel to examine Wells Fargo, CFPB in March
The House Financial Services Committee will hold eight hearings next month, looking at Wells Fargo's recent consumer protection scandals, a reauthorization of the flood insurance program and more. ... Read full article
Banks claim victory in new private flood insurance rule
Depository mortgage lenders are optimistic the final version of a regulation designed to open up the flood insurance market will make it easier for them to comply with a rule requiring them to accept private carrier policies. ... Read full article