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In a press release, State Auditor James Brown said his office has received numerous complaints against a company, Strategic Limited Partners, that is not licensed to issue insurance policies in the state. The most recent complaint came from a Montana resident who received a $90,000 hospital bill the company refused to cover. Another involved a Montana church…

The council voted to hire independent legal counsel during a special meeting Tuesday because its insurance carrier, Selective Insurance, is denying the borough coverage in the class action, borough Solicitor Eric Hochfeld said. After a series of recent correspondence with Selective Insurance, the company has denied providing the borough with legal…

Administrative issues in Washington are threatening better flood insurance premium discounts for Lake County property owners, and the county commission is asking its federal legislators for help. Administration of the National Flood Insurance Program's Community Rating System, or CRS, has been paused, just as Lake County is set to receive a rating upgrade…

The following information was released by the Federal Reserve Board:. It is a pleasure to join you for the annual Women in Housing and Finance Symposium.1 As a woman in finance, I appreciate this organization's focus on women in the industry. From ancient Greece to the Ponzi schemes of the 1920 s to the telemarketing scams of the 1990 s, fraud has always evolved…

The Federal Reserve left interest rates steady Wednesday in what was almost certainly Jerome Powell’s final meeting as its leader, but there were the most internal dissents at a Fed meeting in 34 years. The big picture: The surprising dissents show that Kevin Warsh, whose confirmation to lead the Fed is pending in the Senate, will face significant internal resistance to delivering…

If the United States gets into the business of providing dollar liquidity to the United Arab Emirates and other Persian Gulf states battered by the Strait of Hormuz’s closure, it will amount to a novel use of an old power. The big picture: The Federal Reserve used swap lines with foreign central banks as a key tool to calm global financial disruptions in periods of stress, starting…

The Department of Justice said Friday it will drop a criminal probe into Federal Reserve chair Jerome Powell, a sharp pivot in an unprecedented investigation into the nation’s top central banker. Why it matters: It opens the path for President Trump’s pick to lead the Fed, Kevin Warsh, to be confirmed to the post after a standoff with Sen. Thom Tillis (R-N.C.), who blocked…

Data: Federal Reserve Bank of New York; Chart: Courtenay Brown/Axios The uncomfortable new normal for the U.S. economy: spending growth concentrated at the top of the income ladder, a split largely explained by wealth gains from financial assets. Why it matters: The K-shaped economy is real, though it is not particularly new. That’s the conclusion of research out Friday morning…

When Kevin Warsh takes over as Federal Reserve chair, he will face vocal internal opposition to any attempts to cut rates prematurely. His predecessor will also still be roaming the halls. Why it matters: Taken together, Wednesday’s news out of the William McChesney Martin Jr. Building means that Warsh will face serious constraints if he wants to rapidly steer the Fed in ways that…

Federal Reserve chair Jerome Powell said on Wednesday that he will remain a central bank governor "for a period of time to be determined," citing attempted political interference. Why it matters: It extends Powell’s influence over monetary policy beyond the conclusion of his term as Fed chair on May 15. His term as one of seven Fed governors extends through January 2028. It denies…

This is shaping up to be a momentous week for the Federal Reserve. What comes next for the Fed’s leadership has come into clearer focus in the last three days, but one big question hangs over the institution. The big picture: On Wednesday, the Senate Banking Committee is set to advance Kevin Warsh’s nomination to lead the Fed, after Sen. Thom Tillis (R-N.C.) indicated his…

Prediction markets started as niche platforms for betting on elections. They are now processing real-time forecasts on inflation, Federal Reserve policy, recession probabilities, and geopolitical conflict, and in several cases outperforming the polling organisations and institutional analysts that traditional finance depends on for authority. Washington has noticed. The regulatory…

The San Francisco Chronicle won the Pulitzer Prize for explanatory journalism on Monday for its investigation into how major home insurance companies leave California homeowners unable to rebuild after catastrophic wildfires, even when they have what they thought was full coverage. "Burned," written by reporters Megan Fan Munce, Susie Neilson and Sara…

The Iran war is trapping the world’s central banks with an energy shock that simultaneously undermines growth and stokes inflation, with no good policy response to either. Each of the world’s most important central banks faces that dilemma in policy meetings this week. Why it matters: From Tokyo to Washington, central banks that were on track to normalize policy are now paralyzed,…