NEW: "RECOVERY CZAR" MICHAEL WHATLEY PUSHED HARMFUL FEMA RECOMMENDATIONS THAT WOULD BOOST HIS OWN STOCKS

States News Service

The following information was released by the North Carolina Democratic Party:

Asheville Citizen-Times: "While holding up to $190,000 in insurance company stocks, the Republican U.S. Senate candidate helped write flood insurance reform recommendations that could move flood policies into private markets"

New reporting from the Asheville Citizen-Times reveals DC insider and "recovery czar" Michael Whatley helped write recommendations for the FEMA Review Council's final report that would "push flood insurance business toward private companies, even as he and his family held as much as $190,000 in stock in private companies tied to the flood insurance market."

As co-chair of the Final Report Subcommittee, Whatley was in charge of drafting and submitting the FEMA Review Council's recommendations to improve disaster response. In the report, Whatley pushed for privatizing flood insurance spiking the up to $190,000 of stock he holds while creating " affordability and availability challenges " for disaster victims.

Whatley continues to make it clear that he's only interested in boosting his stock portfolio and enriching himself even when it hurts North Carolina in the process.

Asheville Citizen-Times: Senate hopeful Whatley backed FEMA plan that could boost his portfolio

Cory Vaillancourt | July 7th, 2026

North Carolina Republican U.S. Senate candidate Michael Whatley helped write federal disaster recommendations that could push flood insurance business toward private companies, even as he and his family held as much as $190,000 in stock in private companies tied to the flood insurance market.

President Donald Trump tapped Whatley in January 2025 to lead Tropical Storm Helene recovery efforts in Western North Carolina. That April, Trump named Whatley to the Federal Emergency Management Agency Review Council, a panel charged with reviewing the agency's disaster response and recommending reforms to Trump. Whatley went on to serve as a co-chair of the subcommittee charged with delivering the final report.

The council's final report, released months late on May 7, called for "a strategic shift toward a primary role for the private market" for the National Flood Insurance Program, including a "take-out" program designed to move flood insurance policies from the federal program into private markets.

Whatley's 2025 Senate financial disclosure shows a $461,000 salary in 2025, when he served as chair of the Republican National Committee, and between $3.5 million and $12 million in investments. A small part of that portfolio is between $36,008 and $190,000 in Berkshire Hathaway, Fairfax Financial Holdings and Progressive Corporation stock.

Shortly after the council's final report was released, the Federation of American Scientists said the shift could "prohibitively increase" premiums, while the National League of Cities said such a shift "could create affordability and availability challenges for many communities."

A spokesperson for the Whatley campaign responded to a request for comment by the Asheville Citizen Times but did not answer the questions provided including whether he thought his investments create a conflict of interest or whether he would divest...

Whatley's Democratic opponent, former North Carolina Gov. and Attorney General Roy Cooper, does not own any individual stocks, nor did he own or trade individual stocks during his eight years as governor.

The questions over Whatley's FEMA role land as his Senate campaign has already been hit by a string of controversies, including scrutiny over his support for Harvey West Jr., a convicted sex offender who held GOP leadership roles; criticism that he has obscured his Michigan roots while running as a North Carolina conservative, according to NBC News; and a Carolina Hurricanes hockey gaffe, reported by The Assembly, which gave Democrats another opening to question his connection to the state.