Regulation & Compliance
Will HUD’s Disparate Impact Rule Have Say in Ratemaking?
Despite the McCarran-Ferguson Act, which reserved the regulation of the "business of insurance" to the states, the Department of Housing and Urban Development (HUD) has given itself the ability to ...U.S. Revives Probe Of Media’s Handling Of Economic Data
U.S. law enforcement officials have reversed a decision to wind down an investigation into how news agencies handle the release of economic data to investors, concerned some sensitive information may ...Madoff Victims Can’t Sue SEC: U.S. Appeals Court
Victims of Bernard Madoff's investment fraud have lost their bid to sue the U.S. Securities and Exchange Commission for negligence in failing to uncover the swindler's Ponzi scheme. On Wednesday, a ...Judge Approves $115 Million AIG Shareholder Settlement
A federal judge on Wednesday approved a $115 million settlement between American International Group Inc. shareholders and former CEO Maurice "Hank" Greenberg and other defendants over alleged ...
UK Watchdog Tells Financial Product Sellers: No More ‘Buyer Beware’ Defense
Britain's new watchdog announced sweeping changes in financial regulation on Wednesday, telling banks they can no longer blame customers when products go wrong and promising to study how consumers ...
Stress Tests Make U.S. Financial System Stronger: Bernanke
Federal Reserve Chairman Ben Bernanke said on Monday the central bank's periodic bank stress tests have made the U.S. financial system more resilient. Contrasting the current state of U.S. banks to ...
W.R. Berkley Divests; Shifts InsurBanc To Connecticut Bank It Controls
InsurBanc -- a federal savings bank founded by the Independent Insurance Agents & Brokers of America and insurer W.R. Berkley Corp. a dozen years ago -- has joined Connecticut Community Bank ...
Global Crowdfunding Volumes Up 81% In 2012; More Than Half From U.S. Websites
Crowdfunding websites helped companies and individuals worldwide raise $2.7 billion from members of the public in 2012, an 81 percent increase on the previous year, data showed on Monday. As banks ...