News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Insurance Industry

Ballard Spahr LLP

Citing CFPB cutbacks, Pennsylvania Governor is beefing up consumer protection efforts

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Citing cutbacks at the federal level, Pennsylvania Governor Josh Shapiro has launched a new centralized consumer protection hotline, website and email address to make it easier for state residents to report allegations of...more

Carlton Fields

Plotting a Course for Your 2025 Data Security Plan

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Trying to plot the course for a data security plan in 2025 requires piecing together the maps of various cartographers and decoding each map’s legends and keys....more

Orrick, Herrington & Sutcliffe LLP

CFPB reports finds that flood risk for U.S. mortgages is underestimated

On January 13, the CFPB released a report titled “Flood Risk and the U.S. Mortgage Market” discussing differences in homeowners’ access to flood insurance based on location, income and assets. The report is based on a sample...more

Pillsbury - Gravel2Gavel Construction & Real...

The 2023 Term of the Supreme Court: Administrative and Regulatory Law Rulings

It is instructive to review the Supreme Court’s record in its most recent term, concentrating on regulatory and administrative law cases, which are usually back-burner issues. But not this term....more

Alston & Bird

NYDFS Releases Circular Letter on Use of AI in Insurance Underwriting and Pricing

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On January 17, 2024, the New York State Department of Financial Services (“NYDFS”) issued a proposed circular letter for comment regarding the “Use of Artificial Intelligence Systems and External Consumer Data and Information...more

Alston & Bird

Financial Services & Products / Securities Litigation Advisory: Trends in Enforcement and Recommendations on Protecting Financial...

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Directors and officers (D&O) insurance liability coverage terms continue to evolve in ways that can be important to directors and officers when lawsuits or investigations against them arise. In his 2022 speech “Reining in...more

Bradley Arant Boult Cummings LLP

CFPB Updates Mortgage Servicing Exam Procedures

On January 18, 2023, the Consumer Financial Protection Bureau (CFPB) released an updated version of its Mortgage Servicing Examination Manual. As the CFPB described in a corresponding blog post, the manual outlines “the types...more

Goodwin

CFPB Announces Supervision of Nonbanks and Seeks Comment on Risk-Determination Procedures

Goodwin on

Regulatory Developments - CFPB Announces Supervision of Nonbanks and Seeks Comment on Risk-Determination Procedures - On April 25, the CFPB announced its intention to supervise nonbanks, including fintechs, whose...more

Faegre Drinker Biddle & Reath LLP

Artificial Intelligence Briefing: CFPB, NIST Take Aim at AI Issues

Our latest briefing unpacks important developments at the Consumer Financial Protection Bureau (CFPB) and the National Institute of Standards and Technology (NIST) and other AI-related news at the state and industry level....more

Faegre Drinker Biddle & Reath LLP

Artificial Intelligence Briefing: Feds Tackle AI Issues

The federal government continues to weigh in on artificial intelligence, algorithmic fairness and related issues. In the latest artificial intelligence briefing, we analyze recent events in Washington, D.C., and also track...more

Eversheds Sutherland (US) LLP

Overview of President Biden’s Non-Compete Agreement Executive Order 

On July 9, 2021, President Biden signed the Executive Order on Promoting Competition in the American Economy. The Order, breathtaking in scope, asserts as a key goal the desire to improve the lives of consumers through...more

Goodwin

SEC Releases 2021 Examination Priorities

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In this Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations released its 2021 Examination Priorities and issued a risk alert noting that “Digital Asset Securities” entail characteristics and...more

Goodwin

Financial Services Weekly News: FDIC Issues Deposit Insurance Application Guidance For Non-Banks

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In This Issue. The Federal Deposit Insurance Corporation (FDIC) published new procedures for federal deposit insurance applications from applicants that are not traditional community banks; federal banking regulators released...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2020

The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The US dialed up the heat in its trade war with China even further last night, announcing the imposition of tariffs by September 24th on an additional $200 billion worth of Chinese goods. When combined with the existing...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

SEC Statement on Potentially Unlawful Online Platforms for Trading Digital Assets - On March 7, 2018, the Divisions of Enforcement and Trading and Markets of the Securities and Exchange Commission released a "Statement on...more

Troutman Pepper Locke

D.C. Circuit Court Affirms the Legality of Captive Reinsurance Arrangements

Troutman Pepper Locke on

While the court opinion on the constitutionality of the CFPB’s structure was long awaited, its decision related to RESPA affords the mortgage industry much-needed clarity. ...more

Ballard Spahr LLP

CFPB Enters Into RESPA Settlement With Title Agent

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The Consumer Financial Protection Bureau (CFPB) recently entered into a consent order with Meridian Title Corporation (Meridian) under the Real Estate Settlement Procedures Act (RESPA). ...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending July 14 & 21, 2017

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REAL PROPERTY UPDATE - Foreclosure/Standing: note owner had constructive possession of promissory note in original servicer’s physically possession of blank-endorsed note when it filed the complaint, and had standing to...more

Foley & Lardner LLP

District Court Rebuffs CFPB’s RESPA “Continuing Violations” Theory

Foley & Lardner LLP on

On June 6, 2017, a federal district court in Menichino v. CitiBank rejected an interpretation of the RESPA Section 8 statute of limitations espoused by the CFPB in captive reinsurance cases, instead concluding that RESPA’s...more

Ballard Spahr LLP

Michigan Department of Insurance and Financial Services Announces New Online Complaint Form

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The Michigan Department of Insurance and Financial Services (DIFS) has announced the launch of a finalized version of its online portal to assist Michigan consumers with the filing of electronic complaints. DIFS' Office of...more

Carlton Fields

NAIC Draws Line In CFPB Sand Box

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The National Association of Insurance Commissioners has taken a firm stance on the Consumer Financial Protection Bureau’s proposed ban of “mandatory arbitration” clauses that make financial product consumers waive their right...more

Carlton Fields

Back to the Future: 2017 [Expect Focus Life Insurance – December 2016]

Carlton Fields on

- Should Your Company Purchase Bitcoin to Pay a Cyber Ransom? - NAIC Draws Line in CFPB Sandbox - NAIC’s Big Data Task Force Sets Charges for 2017 - Broker-Dealers Can Hold Customers’ Initial Checks ...more

Carlton Fields

NAIC Draws Line in CFPB Sandbox

Carlton Fields on

The National Association of Insurance Commissioners has taken a firm stance on the Consumer Financial Protection Bureau’s proposed ban on "mandatory arbitration" clauses that make financial product consumers waive their right...more

Carlton Fields

What’s Your Game Plan? Offensive or Defensive: Playing to Your Strengths [Expect Focus – October 2016]

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- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more

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