Rangel Dockery and her husband bought a waterfront house in Florida four months ago, assuming their $2,000-a-year flood-insurance premium would remain about the same. After reading recently about a change in the federal flood program, they checked on next year’s rates and were stunned: Their bill will grow to $14,000 annually.
In the coastal areas of Greenwich, Connecticut, the latest housing craze requires hydraulic jacks, pylons and stilts. One home towers over its neighbors like a cruise ship. Others look like expensive tree houses.
U.S. lawmakers may be nearing agreement on a long-term extension of the National Flood Insurance Program, giving hope to homebuilders, insurers and real estate firms that three years of uncertainty may be coming to a close.
U.S. health insurers can include the cost of federal taxes in determining whether they spend enough on patient care, increasing the amount that can be kept for administration or profit under new rules. Company shares rose .
U.S. House Republicans are seeking information about the agenda and structure of a new bureau that will write and enforce regulations aimed at protecting consumers’ use of financial services in the nation.
The Treasury Department team charged with setting up the Bureau of Consumer Financial Protection may seek public comment on the new agency’s rules before a chairman is installed, according to a letter sent by the inspectors general of the Treasury and the Federal Reserve.