Natural disasters

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.


‘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?


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.


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.


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.


EU fines Mastercard; Why climate change worries BofA


The bloc said the company artificially raised interchange fees in Europe; weather changes that increase flood risks may mean defaults on mortgages.


FHA commissioner to serve as HUD's acting No. 2


The current deputy secretary of the Department of Housing and Urban Development, Pam Patenaude, will step down in January.


Congress passes one-week flood insurance extension


Lawmakers have had to extend the program eight times since October 2017, as Congress has been unable to pass broader reforms.


Regulators offer relief to institutions impacted by California wildfires


Federal and state regulators Thursday offered a slew of regulatory relief measures to banks and credit unions impacted by the disastrous California wildfires.


Banks in wildfires' path scramble to contact employees


Assessments of damage to branches and customers' homes have been elusive.