Insurance

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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ABA Urges HHS to Keep HSAs in Health Care Exchanges

In a letter to the U.S. Department of Heath and Human Services last week, ABA urged it to reconsider a recently issued regulation that would effectively eliminate health savings account-qualified health plans from insurance exchanges beginning next year, causing an estimated 2.8 million Americans to lose their coverage.

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ABA Renews Endorsement of Affinion Insurance Solutions

ABA today renewed its endorsement of the insurance products marketed and administered by Affinion Insurance Solutions, including accidental death and dismemberment and hospital accident protection and recuperative care, as well as a new product, simplified issue term life insurance.

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FDIC Releases Flood Insurance Resource Videos

The FDIC today released an updated series of resource videos on flood insurance to help bank executives and compliance staff better understand federal flood insurance laws, regulations and compliance responsibilities.

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