Columnist predicts storm will have more economic impact than 9/11 and far-reaching implications.
NFIP will likely need to go to Congress for additional borrowing authority to pay claims, insurance industry officials say.
Municipal Credit Union’s troubles persist. New York credit union now reports 14,000 members affected by direct deposit failures.
Pennsylvania joined three other East Coast states telling insurers they cannot impose hurricane deductibles for losses suffered from Superstorm Sandy.
To help credit unions and members affected by Hurricane Sandy, CU Direct Corp. said it has donated $10,000 to CUAid.
Attorney for credit union says she cannot file answers because of storm and not sure when she can as credit union reopens branches.
Storm knocked down Manhattan headquarters and New Jersey backup site, direct deposits being manually processed.
Loans can be up to $1,500 and Warminster, Pa.-based credit union said it has committed $2 million to the loan fund.
Agency says credit unions in six states are not operational, closed or have a pending status.
“The ‘people helping people’ philosophy is thriving this week."