Banks are holding more than $200 million in insurance payments meant for victims of Superstorm Sandy, nearly four months after the storm made landfall, New York Gov. Andrew Cuomo said Tuesday.
The Cuomo administration said it has delivered letters to various banks and mortgage service providers asking they "use maximum discretion and effort to speed the release of funds."
I've always thought this to be one of the most pronounced asymmetries between banks and consumers: If a bank is late paying what it owes you, it's not punished with fees; but, of course, if it's the other way around, if it's you or I who is late, the fees descend on us like a cloud of big-eyed flies.