March 19 Capital One Financial Corp,
Astoria Financial Corp and eight other lenders are
holding back payouts of nearly half the insurance funds they
received related to superstorm Sandy, New York Governor Andrew
New York's Department of Financial Services (DFS) has
notified the lenders to speed up the payment of the funds to
homeowners, the governor said in a statement. ()
These banks are currently holding back 1,109 checks for
Sandy insurance claims, totaling nearly $41 million.
The banks, including Nationstar Mortgage, Selene Finance,
Sun Trust Mortgage, have the worst statistics relating to payout
claims, according to the DFS.
"While we won't be satisfied until every single victim gets
every single dollar to which they're entitled, some banks have
continued to lag especially far behind the rest and it's well
past time for them to pick up the pace," Governor Cuomo said.
In total, the banks that DFS reviewed have paid out more
than $1.1 billion in Sandy insurance claims for homeowners.