Consumer Protection, Insurance, Commercial Law & Contracts

CFPB settles RESPA enforcement action involving affiliated business arrangements

by Richard J. Andreano, Jr. | Ballard Spahr LLP on 5/21/2013

The CFPB has announced the settlement of an enforcement action in which it was alleged that two affiliated business arrangements (ABAs) violated Section 8 of the Real Estate Settlement Procedures Act....more

Federal Housing Finance Agency Proposes New Rules on Lender-Placed Insurance

by Robert Wallan | Pillsbury Winthrop Shaw Pittman LLP on 5/16/2013

On March 29, the Federal Housing Finance Agency (FHFA) proposed consideration of new regulation on lender-placed insurance. The FHFA specifically requested public input concerning sales commissions and reinsurance activities,...more

CFPB proposes delay in effective date of Reg Z prohibition on financing credit insurance premiums

by Alan S. Kaplinsky | Ballard Spahr LLP on 5/13/2013

The CFPB has issued a proposal to temporarily delay the June 1, 2013 effective date of the Regulation Z prohibition on financing credit insurance premiums (Section 1026.36(i)). The proposal responds to concerns raised by...more

Cyber Risk Insurance May Cost More Than You Think

by Thomas Caswell, III | Zelle Hofmann Voelbel & Mason LLP on 5/9/2013

Since 2003, all but four states have enacted laws concerning data breaches and the protection of consumers’ personal information. This regulation of electronic data containing personal information and the protection of such...more

Insurance Coverage for CFPB Investigations and Enforcement Actions

by Stephanie Robinson, Nanci Weissgold, Gregory Wright | K&L Gates LLP on 4/25/2013

Many companies and individuals that are facing investigations or subsequent enforcement actions by the Consumer Financial Protection Bureau (“CFPB”) will be forced to incur substantial sums to defend such claims, to settle...more

CFPB Settles Allegations of Improper Payments by Mortgage Insurers

by Michael W. Jahnke, Michael Mallow, Michael Thurman | Loeb & Loeb LLP on 4/16/2013

The Consumer Financial Protection Bureau (CFPB) announced that it had settled enforcement actions against four insurance companies in connection with alleged improper payments between the insurance companies and mortgage...more

CFPB Investigates Captive Mortgage Reinsurance

by Leonard A. Bernstein, Daniel Booker, John Ellison, Timothy Law, James Rockney | Reed Smith on 4/16/2013

The Consumer Financial Protection Bureau has entered into consent orders with four mortgage insurance companies involving captive reinsurance of mortgage insurance issued to mortgage lenders. Those consent orders impose fines...more

CFPB Takes Action Against Mortgage Insurers To End Kickbacks To Lenders

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 4/8/2013

The CFPB has announced four enforcement actions to end what the Bureau believes to be improper kickbacks paid by mortgage insurers to mortgage lenders in exchange for business. The CFPB filed complaints and proposed consent...more

CFPB announces settlement of four enforcement actions against mortgage insurers

by Richard J. Andreano, Jr. | Ballard Spahr LLP on 4/5/2013

The CFPB announced the settlement of enforcement actions brought in federal district court in Florida against four national mortgage insurers involving allegations that the insurers paid kickbacks to mortgage lenders in...more

Class Action Fairness Act: Amount in Controversy after Standard Fire Ins. v. Knowles (U.S. 2013).

by Pavlack Law, LLC on 3/22/2013

In this installment of the Hoosier Litigation Blog by Pavlack Law, LLC, we discuss the Class Action Fairness Act's amount in controversy requirement in light of the United States Supreme Court decision in Standard Fire Ins....more

Fannie Mae Announces Servicing Policy Changes

by BuckleySandler LLP on 3/6/2013

On February 22, Fannie Mae issued Servicing Guide Announcement SVC-2013-02, reminding servicers that when they deposit undisbursed insurance loss draft funds into an interest-bearing account, the account must be for the...more

South Carolina Court Holds No Coverage for Blast Fax Case Under E&O Policy

by Traub Lieberman Straus & Shrewsberry LLP on 2/22/2013

In its recent decision in BCS Ins. Co. v. Big Thyme Enters., 2013 U.S. Dist. LEXIS 20051 (D.S.C. Feb. 14, 2013), the United States District Court for the District of South Carolina had occasion to consider whether an alleged...more

“Food Fraud Database”: a New Tool to Protect Against Tainted Ingredients

by Natalie Baughman, Jonathan M. Cohen | Gilbert LLP on 2/1/2013

Last week, the U.S. Pharmacopeial Convention (“USP”), a scientific nonprofit that sets standards for food ingredients, medicines and dietary supplements enforceable by the Food and Drug Administration, released an updated...more

Rise in Food Contamination Calls for Proactive Risk Management in 2013

by Jonathan M. Cohen, Emily Grim | Gilbert LLP on 1/11/2013

Despite improvements in food safety over the last two decades, 2012 saw no shortage of recalls due to food contamination. For example, one Indiana farm recalled all cantaloupes from its 2012 growing season after the fruit was...more

Brokers – The Marine Peril of Not Knowing the Market

by Nathan Cecil on 11/27/2012

Two recent cases have highlighted the need for brokers to be familiar with the nature of their client’s business and the limits and exclusions of marine insurance products on the market. In both of these cases, the...more

UK Launches Motor Insurance Market Investigation

by King & Spalding on 10/3/2012

The Office of Fair Trading (OFT) has referred the UK’s private motor insurance market to the Competition Commission (CC) for an-depth investigation because it suspects that the market may not be working well for motorists. It...more

California Alert: New Law Significantly Changes Lapse Requirements for Individual and Group Life Insurance

by Manatt, Phelps & Phillips, LLP on 9/19/2012

The California Legislature has passed and the Governor has signed A.B. 1747, which will become effective on January 1, 2013. The new law (1) establishes a new minimum grace period during which individual and group life...more

Life Partners, Inc. Facing Fraud Charges, Investor Lawsuits Over Insurance Investments

by Heygood, Orr & Pearson on 8/24/2012

The Securities and Exchange Commission has accused the life settlements company Life Partners, Inc. and its executives with fraud in connection with the marketing of their investment product. Life Partners is also facing...more

Five Credit Counseling Compliance Tips and Best Practices for the New Year

by Venable LLP on 1/13/2012

With the start of the New Year, it's time for credit counseling agencies to think about ways to enhance legal and regulatory compliance. Here are some tips on topics that you may not know about. 1. Reduce the Threat of...more

Seeking Companionship and Coverage: No Duty to Defend Dating Service Against Fraud Claims

by Sedgwick LLP on 12/29/2011

Court of Appeals of Wisconsin In State v. GE-Milwaukee, LLC, 2011 WL 6032721 (Wis. App. Dec. 6, 2001), the Court of Appeals of Wisconsin held that an insurer had no duty to defend its insureds under a business insurance...more

Do the Principles of European Insurance Contract Law Go Too Far in Protecting the Policyholder?

by Olavi-Juri Luik on 11/25/2011

The objective of this article is to analyse the PEICL with respect to the question of whether the policyholder is protected too radically, studying the differences of the PEICL from the regulation of insurance contracts in...more

Texas Insurance Law Newsbrief

by Martin, Disiere, Jefferson & Wisdom, LLP on 8/29/2011

Texas courts continue their busy pace in insurance cases. TEXAS SUPREME COURT REVERSES RUTTINGER: WORKERS COMPENSATION CARRIERS NOT SUBJECT TO UNFAIR SETTLEMENT PRACTICES CLAIMS UNDER THE TEXAS INSURANCE CODE In a...more

L'argus de l'assurance : les pratiques abusives envers les assurés

by Laurent François-Martin on 5/1/2011

Revue L'argus de l'Assurance : Comment apprécier les risques concurrentiels dus aux échanges d’informations entre concurrents ?...more

L'argus de l'Assurance - les pratiques déloyales Assureurs-assurés

by Laurent François-Martin on 5/1/2011

revue L'argus de l'assurance : Comment apprécier les risques concurrentiels dus aux échanges d’informations entre concurrents ?...more

Seventh Circuit Issues Significant Decision On Consumer Injunctive Relief Class

by Mark Johnson on 2/24/2011

In Kartman v. State Farm Mut. Automobile Ins. Co., Case no. 09-1725, 2011 U.S. App. LEXIS 2830 (Feb, 14, 2011), the Seventh Circuit authoritatively rejected the use of injunctive relief on a class basis for consumer claims....more

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Consumer Protection › Insurance › Commercial Law & Contracts