Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

GOVT AGENCY YET TO ACT ON CONTROVERSIAL INSURANCE

insurance coverage

JEFF HORWITZ
Associated Press

WASHINGTON (AP) — An Obama administration housing official tells lawmakers that regulators are still considering an overhaul of a controversial type of homeowner’s insurance.

The Federal Housing Finance Agency has not yet delivered on the comprehensive changes promised earlier this year. Agency director Mel Watt told the Senate Banking Committee on Wednesday that he’s “looking at it aggressively.”

Banks buy so-called force-placed insurance to protect the properties of homeowners behind on their loan payments. It costs several times more than regular homeowners’ insurance. State regulators and plaintiff’s attorneys allege that banks inflate the cost of force-placed insurance for homeowners in exchange for insurer kickbacks.

Watt calls addressing abuses a “tough area.” In response, Democratic Sen. Jeff Merkley of Oregon tells Watt that Watt’s in a position to stop it.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post