The tribes who operate Connecticut’s two casinos say the state will face dire economic consequences if they aren’t allowed to open an additional three casinos. They’re worried about competition from an $800 million casino scheduled to open in 2017 in Springfield, Massachusetts.
At a public safety committee meeting on Tuesday, representatives from the two tribes told lawmakers that competition from the upcoming Massachusetts casino could cost them jobs, and could cost the state revenue.
The Federal Emergency Management Agency (FEMA) is beginning its probe into the allegedly lowballed Superstorm Sandy claims by asking flood insurance companies to turn over thousands of records by the end of the week. The data request includes the name of the engineering company and the amount of the damage that was not included in the final payout.
Doug Quinn's ranch house in Toms River, N.J., was heavily damaged by flooding during Hurricane Sandy. His insurance company gave him half the value of his home and when he appealed, FEMA sided with the insurance company.
The Federal Emergency Management Agency has taken the unprecedented step of reopening all Superstorm Sandy flood claims because thousands of homeowners said insurance companies intentionally lowballed damage estimates.
Similar allegations surfaced in 2004 after Hurricane Isabel struck the mid-Atlantic. To answer critics then, FEMA formalized an appeals process.
New York's top bank regulator wants to lead the federal government in aggressively cracking down on errant corporations.
Last week the New York Department of Financial Services fined the German Commerzbank $1.4 billion last week, while also requiring the company fire several employees.
"We think New York state can become a real laboratory of democracy when it comes to financial regulation," Ben Lawsky, Superintendent of Financial Services, said last week before University of Albany business students.