SENATE BANKS COMMITTEE SEEKS ANSWERS ON UNSPENT SUPERSTORM SANDY FUNDS

 
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Public Hearing

Thursday, February 28

1:00 PM Senator Joseph Griffo, Chairman of the Senate Standing Committee on Banks, Hosts Public Hearing regarding Insurance Proceeds Disbursement

To inform and educate consumers on what they can do to expedite the release of any remaining insurance funds from Superstorm Sandy that are being held by banks and mortgage servicers.

A recent investigation by the New York State Department of Financial Services (DFS) uncovered $200 million in insurance funds from Superstorm Sandy that are being held by banks and mortgage servicers and have not yet been sent to homeowners who need the money to pay for necessary repairs to their homes.

The purpose of this Committee Hearing is to examine how banks release funds, and to find ways to reduce the barriers preventing a more expeditious flow of insurance funds to homeowners.

Senate Standing Committee on Banks

Contact:

Dwight Evans (518) 455-3334
Chair: Senator Joseph A. Griffo

Van Buren Hearing Room A, Legislative Office Building, 2nd Floor, Albany, New York

Purpose: