Insurance, Consumer Protection

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

Bringing Sunlight to Healthcare Pricing: The CMS Release of Hospital Charge Data

by Robert Wolin | BakerHostetler on 5/17/2013

Former U.S. Supreme Court Justice Louis D. Brandeis once said that "Sunlight is the best disinfectant." The release of charges billed by some 3,337 Medicare hospitals for 100 of the most common inpatient diagnosis related...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

HHS Empowers Consumers to Know (and Enforce) their Rights Under HIPAA

by Ryan Blaney | Proskauer - Privacy & Data Security on 5/9/2013

The U.S. Department of Health and Human Services (HHS) Office for Civil Rights (OCR) published on its website a series of factsheets designed to educate consumers unfamiliar with their rights under the Health Insurance...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

Are Higher Rates a Good Reason Not to Raise California’s Minimum Auto Liability Coverages?

by Barry P. Goldberg, A Professional Law... on 4/8/2013

Woodland Hills Personal Injury Attorney and Uninsured/Underinsured Motorist Expert Barry P. Goldberg advocates raising California’s minimum Auto Liability Limits to keep pace with reality. More importantly, Mr. Goldberg has...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

Loan Originator Compensation: New Rules

by Jonathan Foxx on 4/3/2013

On January 24, 2013, as the last of the Final Rules of the Consumer Financial Protection Bureau (CFPB) rolled out, I offered an outline of all of them, entitled "CFPB's Gang of Seven (Final Rules)".* I listed them in...more

Illinois Supreme Court Debates the Insurability of TCPA Federal Junk Fax Penalties

by Kirk Jenkins | Sedgwick LLP on 4/1/2013

Earlier this month, on the final day of arguments for the March term, the Illinois Supreme Court heard oral argument in Standard Mutual Insurance Co. v. Lay. Lay presents the question of whether the penalty imposed by Federal...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

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

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 3/18/2013

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

OSHA Issues Interim Final Rule on PPACA Whistleblower Provision

by Connie Bertram, Steven J. Pearlman, Daniel Saperstein | Proskauer - Whistleblowing & Retaliation on 3/11/2013

On February 22, 2013, the federal Occupational Safety and Health Administration (OSHA) released an interim final rule concerning the whistleblower protection provisions of The Patient Protection and Affordable Care Act...more

The California Compulsory Financial Responsibility Laws Are from the Disco Era!

by Barry P. Goldberg, A Professional Law... on 3/11/2013

The California Financial Responsibility Laws which were enacted to protect all California motorists are as outdated as bell bottoms, platform shoes and Saturday Night Fever. It should not make sense to anyone that...more

OSHA Announces Whistleblower Protections Under The Affordable Care Act

by Elina Basham | Akerman Senterfitt on 3/7/2013

The Affordable Care Act (ACA)'s whistleblower provisions may present a hazard for unsuspecting employers. On February 27, 2013, the Department of Labor's Occupational Safety and Health Administration (OSHA) released an...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

You should be alarmed by the Decline in Vehicle Seizures in Los Angeles—More Illegal, Unlicensed and Uninsured Drivers are on the...

by Barry P. Goldberg, A Professional Law... on 3/6/2013

It is no coincidence that serious accidents involving uninsured motorists are on the rise. This dangerous situation is now being fueled by vague and misguided policies which eliminates vehicle impounds for unlicensed and...more

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