Regulation & Compliance
A.M. Best Affirms Meadowbrook Ratings, But Outlook Negative
On Friday, A.M. Best Co. announced that the rating agency removed the "under review" status of "A-minus" financial strength ratings for Meadowbrook Insurance Group and its subsidiaries. The status of ...95% of N.Y. Sandy Claims Closed
Almost 95 percent of Superstorm Sandy-related personal and business insurance claims in the New York State have now been closed, regulators reported. The states compiles data from 24 major insurers ...China Moves to Curb Money Laundering; Banks Must Rate ‘Dirty’ Clients
Chinese banks must rate their clients' risk of criminal conduct on a scale of 1-5 as part of the central bank's moves to curb money laundering and fraudulent transactions estimated at hundreds of ...
U.S., UK Favor Including Financial Services in EU Trade Pact
The United States and the UK aim to include financial services in a proposed free-trade agreement between Washington and the 27-nation European Union, the British ambassador to the United States said ...
House Passes Cybersecurity Bill Over Veto Threat
The House of Representatives passed legislation on Thursday designed to help companies and the government share information on cyber threats, though concerns linger about the amount of protection the ...BofA CEO Moynihan, Ex-CEO Lewis Face Mortgage Disclosures Lawsuit
A federal judge has revived a securities fraud lawsuit accusing Bank of America Corp. Chief Executive Brian Moynihan, his predecessor Kenneth Lewis, and others of misleading shareholders about the ...