Insurance Journal » federal regulation

Financial Firms Having to Adjust to Aggressive Consumer Protection Bureau

Thu, 13 Sep 2012 13:00:40 +0000

The new federal agency charged with enforcing consumer finance laws is emerging as an ambitious sheriff, taking on companies for deceptive fees and marketing and unmoved by protests that its tactics go too far. In the 14 months it has …

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Safety Regulators Recommend Brake Override on All New Cars

Fri, 13 Apr 2012 09:00:18 +0000

U.S. auto safety regulators on Thursday announced a proposal that would require brake override systems on all new passenger cars and trucks, likely by the 2015 model year. The U.S. Department of Transportation safety regulation arm in a 98-page proposal …

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FTC Wants Voluntary Online ‘Do Not Track’ System

Mon, 26 Mar 2012 23:37:31 +0000

U.S. regulators are pressuring Internet companies to put in place by the end of the year a “Do Not Track” system that would give consumers more control over their personal data online, in a report released on Monday that privacy …

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Federal Insurance Office Says Overdue Regulation Report Still Weeks Away

Young Ha — Thu, 02 Feb 2012 15:24:38 +0000

The Treasury Department’s Federal Insurance Office was expected to complete and send its highly anticipated report on modernization of insurance regulation to Congress in January. But now, it looks like it may take a bit longer. A spokesperson for the …

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New U.S. Consumer Agency Pledges to Avoid Rule Duplication

Tue, 24 Jan 2012 13:48:50 +0000

The new Consumer Financial Protection Bureau said on Monday it would coordinate rulemaking and enforcement with the Federal Trade Commission to avoid duplication. Richard Cordray, the recently appointed director of the CFPB, and FTC Chairman Jon Leibowitz signed a memorandum …

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RIMS Tells Treasury: Industry Needs More Uniform, National Regulations

Thu, 15 Dec 2011 21:33:56 +0000

A major group for risk management professionals sent a letter to the U.S. Treasury Department, asking for a bigger federal role in regulating insurance. The Risk and Insurance Management Society sent its letter to Michael McRaith, director of U.S. Treasury’s …

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Treasury Names Members of Federal Advisory Committee on Insurance

Wed, 02 Nov 2011 16:39:54 +0000

The U.S. Department of the Treasury appointed 15 individuals to serve as members of the Federal Advisory Committee on Insurance. The committee will provide advice to Treasury’s Federal Insurance Office (FIO), which was established as part of the Dodd-Frank Wall …

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Republican Report Backs Incentives for Corporate Cybersecurity

Thu, 06 Oct 2011 12:53:14 +0000

A Republican task force in the House said Congress should give companies incentives to boost their cyber defenses, but that tougher regulation may be warranted to protect critical facilities like power and water plants. Recommendations in the report, which was …

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U.S. Regulators Define Swaps, What Falls Under Dodd-Frank

Wed, 27 Apr 2011 18:44:09 +0000

U.S. futures and securities regulators unveiled a crucial part of their expanded supervision of the swaps market on Wednesday, by defining what products will be covered by last year’s financial oversight legislation. The proposals provided the market some long-awaited clarity. …

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New Product Safety Database Under Scrutiny

Jennifer C. Kerr — Tue, 01 Mar 2011 14:19:26 +0000

It’s something Nikki Johns wishes had been around before her infant son died in a drop-side crib: a centralized federal database of people’s safety complaints about thousands of products, from baby gear to household appliances and more. “If I had …

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Regulators Warn Against Defunding Dodd-Frank Implementation

Fri, 18 Feb 2011 13:16:15 +0000

Republicans escalated their push to delay and defund the Dodd-Frank Wall Street reforms on Thursday as top regulators warned the U.S. Senate Banking Committee of a staff and funding crunch. The chiefs of major agencies that are writing hundreds of …

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Invited by GOP, Businesses Vent About EPA, OSHA, Dodd-Frank Rules

Fri, 11 Feb 2011 14:31:50 +0000

On issues ranging from the air we breathe to the noise factories make, business leaders want the government to stay out of their way. And the Republicans, looking toward the 2012 elections, are listening. The House’s principal investigative panel, the …

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Insurers Seek Delay in Financial Rules Until Insurance Posts Filled

Wed, 09 Feb 2011 18:55:58 +0000

The insurance industry is asking the Obama Administration to slow down on rules for deciding whether insurers and other nonbank financial companies should be subject to extra scrutiny because they pose a systemic risk to the country’s financial stability. The …

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Agent Group Sounds Alarm Over Federal Insurance Study

Andrew G. Simpson — Wed, 19 Jan 2011 18:33:57 +0000

Congress should refuse to fund a study of insurance regulation that the new Federal Insurance Office is supposed to conduct, an insurance agents’ trade group said. The National Association of Professional Insurance Agents (PIA) also wants Congress to repeal the …

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President Obama Vows Review of Business Regulations

Tue, 18 Jan 2011 14:26:11 +0000

President Barack Obama said on Tuesday he would order a government-wide review of regulations with the goal of eliminating those that hurt job creation and make the U.S. economy less competitive. In an op-ed piece in The Wall Street Journal, …

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