Editor: David Reiss
Brooklyn Law School

September 5, 2017

Tuesday’s Regulatory & Legislative Roundup

By Jamila Moore

  • The Consumer Financial Protection Bureau wants to ensure the victims of Hurricane Harvey are well supported. As the financial industry’s top enforcer, the agency recently released a statement mentioning the strain such catastrophes cause to consumers and a need to promptly assist in recovery. Seemingly, the agency’s goal is to ensure consumer’s credit and liquidity is not severely affected by the current devastations in the Texas and Louisiana communities.
  • A Texas Congressman, Jeb Hensarling, chair of the House Financial Services Committee, wants to support Houston by proposing to extend the National Flood Insurance Program (NFIP) for three additional months. Other Congressmen in the committee hope approval of an extension will lead to additional reforms connected to NFIP. Jeff Emerson hopes the program will soon have the capability to borrow funds.
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