Ranking House Financial Services Committee member, 26 others express concern to FEMA over flood insurance affordability.
The other good news for the Empire State is that 73% of its credit unions reported a positive return on assets as of Dec. 31, 2012. Statewide, New York’s credit unions earned an average ROA of 87 basis points, slightly higher than the national average of 86.
New York state credit unions best national ROAA average by a point while absorbing Sandy's blow.
FEMA sub-agency director says installment plan being worked on, along with studies on affordability and privatization.
Mississippi insurance commissioner makes that observation, while FEMA says agency continues to eye NFIP privatization.
Bill would slow rate of increase in NFIP premiums in areas that had been declared disasters.
Legislation increases borrowing authority by one third, draws Republican ire and promises to take NFIP private.
Claims from superstorm to outstrip NFIP's borrowing authority.
Of the 2,000 credit unions located in the path of Hurricane Sandy, 838 were unable to operate, in varying degrees, during the difficult days following the super storm, according to the NCUA. And it took nearly a full week before most of those credit unions were be back in business...
NFIP will likely need to go to Congress for additional borrowing authority to pay claims, insurance industry officials say.