Political Quotes

“I ask unanimous consent that the pending amendment be set aside so I may call up amendment No. 2709, and that the amendment be modified to correct a typographical error. The PRESIDING OFFICER. Without objection, it is so ordered. The clerk will report the amendment. The legislative clerk read as follows: The Senator from Oregon [Mr. Merkley] proposes an amendment numbered 2709, as modified. The amendment is as follows: (Purpose: To establish limitations on force-placed insurance) At the end of title I, add the following: SEC. 110. LIMITATIONS ON FORCE-PLACED INSURANCE. Section 102(e) of the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a(e)) is amended-- (1) by redesignating paragraphs (3) through (6) as paragraphs (4) through (7), respectively; and (2) by inserting after paragraph (2) the following: ``(3) Limitations on lenders and servicers.-- ``(A) Payments from insurance companies.--An lender or servicer, or an affiliate of a lender or servicer, may not receive a commission or any other payment from an insurance company in connection with securing business under paragraph (2) from the insurance company. ``(B) Purchase from affiliated insurance companies.-- ``(i) In general.--Except as provided in clause (ii), a lender or servicer, or an affiliate of a lender or servicer, that purchases insurance under paragraph (2) may not purchase the insurance from an insurance company that is affiliated with the lender or servicer.…”