Dodd-FRank News

AIG Among ‘Too-Big-to-Fail’ Insurers Trying to Assess Path Forward Under Trump

Insurance giant American International Group sees “considerable uncertainty” about U.S. regulations that deem non-bank financial institutions as being too big to fail, given the recent change in White House administrations, according to a filing. The “appropriateness and federal regulation” of …

U.S. and New York Accuse Firm of Scamming 9/11 Heroes, NFL Retirees

A company that advances money to people awaiting settlement payouts was accused by New York and federal regulators of scamming sick responders to the Sept. 11, 2001 attacks, as well as National Football League retirees with brain injuries. RD Legal …

Insurance Industry Collaboration Key to Facing Disruption, III CEO Says

In an increasingly connected and globalized world, the insurance industry needs to work together to understand and accommodate the many disruptions it faces today and in the future, according to Sean Kevelighan, CEO of the Insurance Information Institute (III), during …

Bipartisan Senate Megabank Bill Would Split Banking from Insurance, Other Risks

A small bipartisan group of U.S. senators on Thursday introduced legislation that would break up Wall Street’s megabanks by separating traditional banking activity from riskier financial services. The bill, called the 21st Century Glass-Steagall Act, has an uncertain future, but …

SEC Regulator Urges Ban on Mandatory Arbitration Agreements by Investment Firms

A top U.S. securities regulator on Tuesday urged the government to consider adopting new rules that would prohibit or restrict brokerages and advisers from forcing customers to sign away their right to sue. “By providing investors with the ability to …

Large Insurers Anxious As Financial Council Finalizes Systemic Risk Rule

The U.S. financial risk council approved a final rule on Tuesday laying out how it will decide which financial companies outside the banking industry will face new scrutiny by the Federal Reserve in hopes of preventing a repeat of the …

U.S. Treasury’s Geithner Put on Spot for Delayed Insurance Report

A Republican Congresswoman took an opportunity during a hearing on Tuesday to ask U.S. Treasury Secretary Timothy Geithner why the Federal Insurance Office is late with its report on modernizing insurance regulation. The inquiry came from seven-term U.S. Rep. Judy …

Treasury Says More Time Needed to Complete FIO’s Modernization Report

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 while longer. A spokesperson for the …

Financial Services Oversight Rules Possible This Week

The Federal Reserve is expected to release this week a highly anticipated proposal for how it will oversee the largest U.S. banks, a person familiar with the plan said on Monday. The proposal, which includes a group of rules such …

Washington Gridlock Continues Over Consumer Financial Protection Agency

The answer to the Final Jeopardy! question of who will be the first director of the Consumer Financial Protection Bureau will not become known today. In fact, it may be a while before there is an answer. Senate Republicans say …