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Category: Regulations


Capital and Risk, Insurance, Regulations

Florida Supreme Says Insurer Can Pursue Malpractice Claim Against Defense Law Firm

June 8, 2021

Via: Insurance Journal

Attorneys who are hired by insurance carriers to defend policyholders from lawsuits have a duty to represent the insured, but the insurer is paying their fees. Obviously, the insurer has a financial interest in the outcome of the litigation. The […]


Regulations

Senators, bank CEOs spar on Capitol Hill over compensation, voting rights

May 27, 2021

Via: Banking Dive

For the first time since 2019, a panel of the nation’s most powerful bank CEOs testified at a congressional hearing Wednesday. The virtual hearing started off with the CEOs of the nation’s six largest banks touting their pro-social efforts to […]


Regulations

Federal Reserve to kick off conversation on CBDC

May 21, 2021

Via: Payments Dive

Federal Reserve Chairman Jerome Powell shifted his tack slightly Thursday on the topic of creating a central bank digital currency, saying the Fed will issue a paper this summer designed to “stimulate broad conversation” about the possibility. In a brief […]


Capital and Risk, Insurance, Regulations

Louisiana Private Flood Insurance Bill Returned to House from Senate

May 20, 2021

Via: Insurance Journal

A Louisiana bill that would make it easier for private flood insurance carriers to offer flood insurance in the state has been sent back to the House to contemplate amendments added by the Senate. House Bill 577, by Rep. Scott […]


Regulations

Wells Fargo, U.S. Bank disclose CFPB investigations

May 7, 2021

Via: Banking Dive

U.S. Bank’s filing indicated only that the lender is “cooperating fully with all pending examinations, inquiries and investigations,” and “has responded and continues to respond to the CFPB.” When pressed for more information, a U.S. Bank spokesperson told American Banker […]


Regulations

California regulator orders Chime to stop calling itself a bank

May 6, 2021

Via: Banking Dive

Chime, which launched in 2013, is not a bank, but partners with The Bancorp Bank and Stride Bank to offer its customers financial products such as debit cards and Federal Deposit Insurance Corp. (FDIC)-insured deposits. The California agency claims Chime […]


Regulations

Fed strikes balance between openness, caution toward nonbanks

May 6, 2021

Via: Banking Dive

The Federal Reserve has shown twice this week that it is open to applying its regulatory framework beyond the tidy little box where banks reside. First, in comments to a fair-lending advocacy group Monday, Fed Chair Jerome Powell said the […]


Activity, Corporate Banking, Regulations

Vice President Harris leading small business outreach in White House recovery plan push

May 5, 2021

Via: CNBC

As the White House attempts to sell President Joe Biden’s multitrillion-dollar rescue and recovery plans across the country, Vice President Kamala Harris is taking on a leading role as an ambassador to small businesses, particularly in underrepresented communities. On Wednesday, […]


Regulations

Retail organizations sue Fed over debit law enforcement

April 29, 2021

Via: Payments Dive

Two retail associations sued the Federal Reserve Board of Governors today over what they claim is a failure by the federal agency to properly enforce a federal law that caps the fees that can be charged on debit transactions. The […]


Regulations

Time hasn’t stalled regulators’ resolve on Ripple, Robinhood cases

April 26, 2021

Via: Banking Dive

If Ripple executives had hoped a change in leadership at the Securities and Exchange Commission (SEC) would dial back momentum on the agency’s case against the company, they have at least received their answer. The SEC, in a court filing […]