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Regulation and compliance

Industry, advocates react to California’s proposed insurer solvency rules

Industry, advocates react to California’s proposed insurer solvency rules

California, Climate Change, Property and casualty insurance, Regulation and compliance /

Takeaways: Large insurers would have to assess and disclose climate risks Proposal requires risk projections for next three decades Advocates want more risk mitigation efforts and disclosures California insurance commissioner Ricardo Lara’s proposed Long-Term Solvency Regulation, announced October 28, has insurers criticizing its provisions while consumer advocacy groups call for more disclosures and climate mandates. […]

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Amerisave hit with new TCPA class action suit

Law and legal issues, Marketing, MARKETING TO BORROWERS, Regulation and compliance /

Amerisave Mortgage faces a new class action lawsuit that alleges it violated the Telephone Consumer Protection Act after it attempted to contact an individual on the Do Not Call registry.   In documents filed in federal court in the Northern District of Georgia late last month, attorneys for plaintiff Erin Wilson noted she had listed her

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CFPB to gut indirect discrimination in civil rights rule

CFPB to gut indirect discrimination in civil rights rule

Compliance, Enforcement, Racial bias, Regulation and compliance /

Al Drago/Bloomberg What’s at Stake: The bureau acknowledges that the elderly, minorities and people with low incomes may be harmed by the changes. Expert Quote: The proposed rule “will effectively invite a return to redlining and exclusion,” said Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition. Key Insight: The CFPB claims the

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Bessent credits Trump policies for bond market

Politics and policy, Regulation and compliance, Treasury Department /

Key insight: Bessent says Trump policies boost Treasury market, lower borrowing costs. Supporting data: Treasury returns are up 6% this year. Forward look: Treasury to keep auctions steady, avoid market shocks. Treasury Secretary Scott Bessent Wednesday said the administration’s economic policies were addressing affordability for Americans.Speaking Wednesday at the New York Fed’s Treasury Market Conference

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Atlanta Fed President Bostic to retire in early 2026

Atlanta Fed President Bostic to retire in early 2026

Federal Reserve, Monetary policy, Regulation and compliance /

David Paul Morris/Bloomberg Key Insight: Federal Reserve Bank of Atlanta President Raphael Bostic, the first black and openly gay head of the regional bank, will end his term in early 2026. Until a successor is appointed, Cheryl Venable, vice president of the Atlanta Fed, will step in to fill the role.  Expert Quote: “I’m proud of

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CFPB makes early exit from consent order against TransUnion

CFPB makes early exit from consent order against TransUnion

Compliance, Enforcement, Regulation and compliance /

Russell Vought, director of the Office of Management and Budget and acting director of the Consumer Financial Protection Bureau.Andrew Harrer/Bloomberg Key Insight: The five-year consent order that was settled in late 2023 was ended nearly three years early by the Trump administration. Supporting Data: TransUnion already paid a $5 million-dollar fine and $3 million in

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Effort to halt CFPB’s new PACE rules hits roadblock

CFPB News & Analysis, Law and legal issues, Politics and policy, Regulation and compliance /

A loan program allowing homeowners to pay for clean energy upgrades through property tax bills will still be subject to tighter lending rules next year, a federal judge ordered.  The Property Assessed Clean Energy (PACE) program allows borrowers to pay for home improvements, from storm hardening to solar panels, via future property tax assessments. The

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Waller hedges on nonbank access to ‘skinny’ master account

Waller hedges on nonbank access to ‘skinny’ master account

Federal Reserve, Politics and policy, Regulation and compliance, Stablecoin, Technology /

Bess Adler/Bloomberg Key insight: Federal Reserve Gov. Christopher Waller’s comments suggest the barriers to nonbank firms acquiring a “skinny” Fed master account — a concept Waller himself introduced late last month — may be higher than were previously assumed. Expert Quote: “There’s a misunderstanding out there that somehow just a fintech can show up and

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Fed says banks are well managed even with a deficient rating

Fed says banks are well managed even with a deficient rating

Federal Reserve, Regulation and compliance /

Kent Nishimura/Bloomberg Key Insight: The Fed says its revised supervisory framework reflects that large banks are well capitalized, have sound liquidity positions and good asset quality Supporting Data: Roughly 47% of large financial institutions were considered not “well managed” under the former framework. Expert Quote: “Bank ratings should reflect overall safety and soundness, not just

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Fair housing complaints stay near historic peak in 2024

Affordable housing, Diversity and equality, Housing markets, Politics and policy, Regulation and compliance /

Housing discrimination complaints were close to their two-decade high in 2024, alarming advocates concerned about a pull-back in enforcement, the National Fair Housing Alliance said. Its 2025 Fair Housing Trends Report found 32,321 discrimination complaints were filed in the prior year. While this was lower than the 34,150 complaints received for 2023, it is still

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