Regulation & Compliance
Warning: Online Background Checks May Violate Fair Credit Law
Federal regulators this week warned several companies that the quick, easy background checks they are providing online might violate the Fair Credit Reporting Act. The Federal Trade Commission sent ...
New Jersey Gov. Christie Signs Single-Page Homeowners Summary Bill
New Jersey Gov. Chris Christie has signed into law a bill that aims to help homeowners better understand their insurance policies. The legislation (A3642/S2502) requires homeowners' insurers to give ...
U.S. Gets Green Light to Sue BofA Over Mortgages Under Untested Theory
A federal judge ruled on Wednesday that the United States can pursue parts of a civil lawsuit against Bank of America Corp. over its sale of toxic mortgages to Fannie Mae and Freddie Mac, boosting a ...
S&P’s New Insurance Criteria Released; Method Would Have Spotted AIG’s Past Problems
Incorporating lessons learned from historical periods for industry stress, including the near-failure of American International Group, Standard & Poor's published a revised rating methodology for ...
Florida to Create Clearinghouse for Citizens Business
Florida lawmakers have approved legislation that seeks to slow the growth of the state-backed property insurer by diverting new policies into the private market while largely retaining the status quo ...
Court Upholds California Commissioner’s Authority in Mercury Rate Cut
The California Court of Appeal has upheld a Los Angeles Superior Court ruling by dismissing Mercury Insurance Co.'s lawsuit challenging Insurance Commissioner Dave Jones' authority to decrease the ...SEC Charges Pennsylvania’s Harrisburg With Fraud
Federal regulators on Monday accused Pennsylvania's beleaguered capital, Harrisburg, of committing fraud, in a move that officials said is meant to send a warning to local officials about the ...
Rate Hikes Likely If Terror Insurance Act Not Renewed: Fitch
Failure to renew the Terrorism Risk Insurance Act (TRIA) could induce commercial insurers to retreat from larger metropolitan areas, reducing availability of coverage and raising premium rates, Fitch ...