Federal housing regulators are being urged to sue insurers and mortgage servicers over alleged overcharging for force-placed insurance on troubled homeowners during the housing crisis.

Sen. Schumer says the House's TRIA bill is a "backwards approach." Industry groups worry about the impact on availability. But most are relieved there is at least progress in renewing the program that expires Dec. 31.

A divided House Financial Services Committee advanced to the House floor today legislation that sets a path to phase out, after five years, the federal backup for terrorism risk insurance for attacks except for NBCR events. Legislation establishing NARAB was attached to the bill.

Rep. Jeb Hensarling proposes a 7-month "clean" TRIA extension of the program in its current form as a backup plan should Congress not be able to agree on a longer-term bill. But could he just be playing for time in hopes of working with a more conservative Congress in 2015?

A Thursday vote has been scheduled on the House Financial Services Committees version of legislation reauthorizing the Terrorism Risk Insurance Act as industry reps stake out their positions on the House and Senate versions.

The House Financial Services Committee is moving to effectively shut down the operations of the FSOC for at least six months by barring it from designating any financial institution as systemically significant.

From potential adverse impacts on smaller insurers to concern over a "bifurcated" approach to NBCR, industry groups, while pleased with progress on the TRIA front, have reservations about the expected House bill

The Republican leadership of the House Financial Services Committee is proposing a substantive reduction in potential government liability for terrorism attacks in order to have terrorism risk insurance transition to the private sector as soon as possible, a Republican lawmaker tells PC360.