Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Flood insurance revamp hearing is today
WASHINGTON (3/11/11)--A House Financial Services subcommittee today will conduct a hearing to study legislative proposals to reform the country’s flood insurance program, which is intended to offer some security to homeowners and business in flood-prone areas. Rep. Judy Biggert (R-Ill.), chairman of the subcommittee on insurance, housing and community opportunity, which is conducting the review, cited “inadequate management and insufficient funds,” as key problems of the program her subcommittee is scheduled to examine. “It’s crucial that we begin to restore the financial integrity of (the National Flood Insurance Program) NFIP so that homeowners and businesses in flood-prone areas, like many in Illinois, are not left without any protection and taxpayers are not on the hook for the failings of NFIP," she said. Witnesses for the hearing include: Craig Fugate, administrator, Federal Emergency Management Agency Orice Williams Brown, managing director, Government Accountability Office (GAO), Sally McConkey, vice chair, Association of State Flood Plain Managers and manager, Coordinated Hazard Assessment and Mapping Program, Illinois State Water Survey. For a complete witness list, use the resource link below.
Other Resources

RSS print
News Now LiveWire
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
39 minutes ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
3 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
3 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
3 hours ago
Reps. Sherman, Woodall and Heck speak about why they support CU tax status at The Hill forum. http://t.co/fMgBRCJoML
3 hours ago