Insurance

Data Theft Damages: Who Pays?

When it comes to data breaches, the hack of the archaic Myspace—the failed social media platform that was rendered obsolete by Facebook—proves nothing is safe.

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ABA: Proposed Arbitration Rule Not in Public Interest

ABA and other trade groups today urged the Consumer Financial Protection Bureau not to move forward with its proposed rule on arbitration, arguing that the rule is not in the public interest, does not protect consumers, and is inconsistent with the bureau’s own study of arbitration of consumer financial products and services.

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ABIA Supports Proposed Privacy Notice Changes

The American Bankers Insurance Association yesterday expressed its support for the Consumer Financial Protection Bureau’s move to implement recent legislation providing banks an exemption from sending an annual privacy notice provided they meet certain requirements.

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ABA Applauds Passage of HSA Legislation

ABA today applauded the passage of H.R. 1270, the Restoring Access to Medication Act. The bill -- which advanced by a bipartisan vote of 243 to 164 -- expands the range of health care products and services covered by health savings accounts and increases the amount individuals can contribute to their HSAs each year.

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ABIA Comments on Proposed TRIA Changes

In a comment letter to the Federal Insurance Office yesterday, the American Bankers Insurance Association called for FIO to reconsider its definition of “captive insurer” under a proposed rule to implement recent changes to the Terrorism Risk Insurance Act.

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