Regulation/Legislation

The Heartland Institute has agreed to split off its insurance-research unit effective May 31.

Florida has effectively agreed to abide by federal-flood-agency rules that bar new development in flood plains without prior federal approval.

The New York Federal Reserve said on Thursday it sold all its TRIAXX collateralized debt obligations from a portfolio of assets that was used in the government bailout of insurer AIG to Merrill Lynch, following a competitive bid process with eight other Wall Street firms.

The pressure on the Senate to act on a long-term National Flood Insurance Program extension intensified as trade groups across multiple industries kicked off their Flood the Hill campaign with a letter sent to Senate leadership.

The Treasury Department says it expects to receive an additional $750 million from its latest sale of AIG stock as a result of underwriters buying additional shares.

The U.S. governments fiscal watchdog said today the federal government could ultimately make more than $15 billion from its investment in American International Group, an investment the government said was necessary to save AIG from insolvency.