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House loosens claims policy for debt-ridden flood program

July 5, 2006 Critics contend an amendment added to a recently passed House bill overhauling the federal government's flood insurance program could leave the financially troubled program in worse shape. The House adopted an amendment last Tuesday by Rep. Jo Ann Davis, R-Va., to extend the proof of loss filing for policyholders in ...

Senator introduces bill to shore up flood insurance program

May 23, 2006 Senate Banking Chairman Richard Shelby, R-Ala., Monday unveiled legislation to overhaul the federal government's flood insurance program by requiring more policyholders to pay fair-market rates and more homeowners to participate in the program than called for in a companion House bill. Shelby announced his panel would mark up the measure ...

Securities chief pushes Web tools for shareholders

March 21, 2006 Securities and Exchange Commission Chairman Christopher Cox on Tuesday touted his goal of letting investors use technology to give them a greater say in corporate governance. In a speech to the Committee for Economic Development, Cox noted that several SEC rules proposed in recent months have furthered his agenda of ...

Panel to consider bill revamping federal flood insurance program

March 13, 2006 The House Financial Services Committee will mark up legislation Wednesday that would end subsidies for vacation homes and raise the cap on annual premium increases for coverage under the federal flood insurance program. The provisions are part of an effort to overhaul the program, which is entirely funded by premiums ...

Dispute over low-income energy assistance delays flood insurance bill

February 16, 2006 A Senate dispute over low-income energy assistance might jeopardize legislation to increase the federal flood insurance program's borrowing limit, potentially preventing thousands of homeowners from being reimbursed for claims related to Hurricane Katrina. Sen. Olympia Snowe, R-Maine, has placed a hold on a bill to increase the borrowing limit from ...

Compromise eyed on bill to create Katrina recovery organization

February 15, 2006 Senate Banking Chairman Richard Shelby, R-Ala., offered no promise of support Wednesday to Gulf Coast lawmakers who are pushing a bill to fund rebuilding efforts in the wake of Hurricane Katrina. Shelby spoke as his panel examined a legislative proposal to create a government-sponsored corporation to redevelop areas devastated by ...

Ex-FEMA head says White House warned about flooding

February 10, 2006 Former Federal Emergency Management Agency Director Michael Brown testified Friday that he went around top brass at the Homeland Security Department and notified White House officials as soon he was informed that New Orleans was flooding from Hurricane Katrina. Brown told the Senate Homeland Security and Governmental Affairs Committee that ...

Outlook uncertain for bill creating Katrina recovery organization

January 27, 2006 Rep. Richard Baker, R-La., said Thursday his measure to create a government-sponsored corporation to redevelop areas devastated by Hurricane Katrina has a 50-50 chance of success in the wake of White House opposition to the measure because of fiscal and operational concerns. Baker said he and other members of the ...