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TRIA Extension Fails: An Initial Guide to Next Steps

To the surprise of many, Congress failed to extend the Terrorism Risk Insurance Act of 2002 ("TRIA"), which is set to expire at the end of this year. Many hope that TRIA in some form will be re-authorized early in 2015 and,...more

Before Adjourning, US Congress Adopts Budget With Dodd-Frank Amendments; Fails To Pass Terrorism Risk Insurance Legislation

Before the 113th Congress adjourned on December 16, Congress adopted the Consolidated and Further Continuing Appropriations Act of 2015, which ensures the federal government operates with budget certainty until September...more

President Signs Changes to Collins Amendment Favorable to Insurers

On December 18, President Obama signed into law the Insurance Capital Standards Clarification Act of 2014 (the Act). The Act makes it clear that the Board of Governors of the Federal Reserve (the Fed) is not required to apply...more

Streamlined Regulation for Insurance Companies

The Insurance Capital Standards Clarification Act of 2014 has been presented to President Obama for signature. The bill will: Add language to Section 171 of Dodd-Frank to clarify that, in establishing minimum capital...more

If It’s December, It Must Finally Be Time for Congress to Do Something About TRIA

It looks like Congress is finally turning its attention to reauthorizing the Terrorism Risk Insurance Act (TRIA). The statute will sunset on December 31st unless action is taken before then....more

What The Us Mid-Terms Mean For The Insurance Sector

Last week the Republican party surprised many observers by securing substantial gains in the 2014 mid-term elections at multiple levels of government. Republicans won control of the US Senate and increased their majority in...more

FIO Focus, Issue No. 61 - Congressional Financial Stability Oversight Council Oversight Hearing

On September 17, 2014, the Subcommittee on Oversight and Investigations of the Financial Services Committee of the U.S. House of Representatives held an oversight hearing on Financial Stability Oversight Council (FSOC)....more

North Carolina Legislative Report

The General Assembly’s Short Session began Wednesday, May 14, 2014. The MVA Public Affairs Legislative Report on North Carolina will be distributed weekly to keep you up to date on the latest legislative issues facing the...more

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - Senate to vote on TRIA reauthorization bill, Federal Reserve Membership - This week, the Senate is expected to consider a bill (S. 2244) that would reauthorize the Terrorism Risk Insurance...more

NY Bill Seeks to Strip Insurers of Discretion When Substance Abuse Services Should Be ERISA Preempted

The New York State Senate is considering passing Bill No. 4326 which seeks to address an epidemic of heroin and prescription drug abuse by requiring insurers to provide in-patient treatment to addicts. Publicity over the...more

FIO Focus, Issue No. 51: Legislation Introduced to Clarify Collins Amendment

Concerns that minimum leverage and risk-based capital requirements required under section 171 of the Dodd-Frank Act would be applied to insurance companies have been addressed in S. 2270, sponsored by Susan Collins (R-ME),...more

President Signs Flood Insurance Bill

On March 21, President Obama signed the Homeowner Flood Insurance Affordability Act of 2013, which includes several provisions impacting previously enacted mandatory flood insurance purchase requirements. The bill, among...more

FIO Focus, Issue No. 46: Congressional Hearing on the FIO's Modernization Report 02.06.14

Devoted to exploring the progress of the modernization of the insurance industry, FIO Focus provides information and insights about the organizations and issues that are driving change and influencing the future of the...more

Capital Thinking: Financial Services

SENATE VOTE ON FED CHAIR EXPECTED THIS WEEK - The Senate is expected to hold a vote on the confirmation of Ms. Janet Yellen to be Chair of the Federal Reserve Board of Governors this week. In addition to pushing for a...more

FIO Focus - November 2013, Issue 43

On November 19, 2013, the House Financial Services Subcommittee on Oversight and Investigations held a hearing entitled "A General Overview of Disparate Impact Theory." The hearing covered the use of disparate impact...more

Paul & Patty’s Potluck: Budget Conference Could Have Big Implications for Tax Reform

After weeks of tense negotiations, Congress passed legislation on October 16, 2013 to end the government shutdown and raise the debt ceiling. As part of the deal, congressional leaders agreed to establish a conference to...more

As shutdown week 2 approaches, 4 subtle signs of a possible deal

Congressional sources indicate, however, that a deal might not come together politically until very close to the October 17 - 18 deadline at which Treasury Secretary Jack Lew has warned Congress that, absent additional...more

FDIC Promises Guidance On Bank Payment Processing

On September 17, FDIC Chairman Martin Gruenberg responded to a letter sent recently by Republican members of the House of Representatives, in which the members objected to the agency’s approach toward online lending and the...more

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - Terrorism Risk Insurance Reauthorization Gets Congress’ Attention - Last week the House Financial Services Committee addressed the issue of reauthorization of the Terrorism Risk Insurance...more

Legal Alert: Federal Insurance Issues We Are Watching During Fall 2013

The United States Congress has returned from its summer recess. On its first full day back in session, the U.S. House of Representatives passed (by a vote of 397-6) long-stalled legislation that would fundamentally alter the...more

Changes to the future of financial advice (FOFA) reforms on the horizon

With the change of government on the weekend, we are anticipating changes to the FOFA reforms. In the "Coalition's policy to boost productivity and reduce regulation" it states that it will implement all 16 recommendations...more

Senate Banking Leaders Offer Bipartisan FHA Reform Bill

On July 15, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) released a discussion draft of a bill intended to improve the solvency of the FHA’s Mutual Mortgage Insurance Fund (MMI...more

Rogers Towers: Florida House Bill 909 (2013): A Sigh of Relief for Water Mitigation Contractors and Restoration Companies

This past spring, the insurance and banking lobbies created quite a stir in the water and fire damage mitigation and restoration industry....more

Greenberger: Derivatives Legislation Would Seriously Weaken Dodd-Frank  [Video]

May 10 (Bloomberg Law) -- Michael Greenberger, a professor at the University of Maryland School of Law, tells Bloomberg Law's Lee Pacchia that a new set of legislation making its way through the House of Representatives could...more

Financial Services Legislative And Regulatory Update -- March 18‚ 2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Leading the Past Week - It was another busy week on the Hill and in the Administration, but it may have...more

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