Gillibrand Urges Feds to Help Speed Up $200 Million in Delayed Insurance Payments to Sandy Homeowners

    Gillibrand Urges Feds to Help Speed Up $200 Million in Delayed Insurance Payments to Sandy Homeowners

    New York, NY – February 13, 2013 – (RealEstateRama) — After an investigation by New York State’s Department of Financial Services found that banks have delayed approximately $200 million in Superstorm Sandy related insurance payments to thousands of New York homeowners, U.S. Senator Kirsten Gillibrand urged the Consumer Financial Protection Bureau (CFPB) today to review the matter and find the most efficient and effective way for financial institutions to expedite insurance claims and cut through red tape. Four major U.S. banks are holding more than two-thirds of the 6,000 delayed relief funds, or an estimated $130 million, owed to New Yorkers who need assistance to repair and rebuild in the aftermath of Superstorm Sandy

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