From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.
The American Bankers Association last week urged the National Association of Insurance Commissioners to provide a safe harbor for banks and their affiliates in the insurance distribution business in its “suitability in annuity transactions” model law.
The financial regulatory agencies last Friday released a final rule governing the acceptance of private flood insurance.
The National Council of Insurance Legislators recently met in Oklahoma City and approved a unanimous bipartisan resolution supportive of policies that preserve health savings account access.
The rapid pace of change will continue in 2019, ABA policy staff project.
Effective immediately, the Federal Emergency Management Agency will allow operations of the National Flood Insurance Program to resume, even while the government remains partially shut down, the agency announced today.
In an unanticipated move yesterday, the Federal Emergency Management Agency announced that it will halt regular National Flood Insurance Program operations during the government shutdown, a decision that will complicate and potentially delay loan closings for borrowers seeking mortgages where NFIP coverage is required.
The American Bankers Association joined 26 other industry trade groups in a letter to congressional leaders urging them to take action to extend the National Flood Insurance Program, which is scheduled to lapse on Friday.
A group of eight Republican senators on Friday called on financial regulators to adopt a rule that would provide clear parameters for broad acceptance of private flood insurance.