The U.S. Senate Budget Committee debated the causes of the national insurance crisis, with Democrats blaming climate change and Republicans citing high government spending and inflation. Florida, facing increased hurricane threats, sees national insurers dropping plans or raising prices, leaving many residents uninsured or turning to state-backed Citizens Property Insurance. The My Safe Florida Home program will offer grants to help homeowners fortify their homes against storms, potentially lowering insurance premiums.
Credit Suisse has been accused by US lawmakers of limiting the scope of an internal investigation into Nazi clients and Nazi-linked accounts, including some that were open until just a few years ago. Despite the hurdles, reports from the ombudsman and a forensic research team revealed at least 99 accounts credibly tied to senior Nazi officials in Germany or members of Nazi-affiliated groups in Argentina, most of which were not previously disclosed. The latest findings come as problems have boiled over for Credit Suisse, a pillar of Swiss banking whose origins date to 1856, culminating in a government-orchestrated takeover by rival lender UBS.
Credit Suisse is facing accusations that it has not been fully forthcoming about the scope of its historical assistance to Nazis, a quarter-century after it agreed to take part in a $1.25 billion settlement of lawsuits by Holocaust survivors. The Senate Budget Committee opened an investigation after Credit Suisse fired a lawyer it had hired to oversee an independent inquiry hunting for accounts linked to Nazis who went to Argentina. The dispute shows that, eight decades after World War II, the understanding of how Swiss banks provided financial assistance to Nazis is still incomplete.
