Insurance

ABA Announces $1.5 Million Insurance Distribution

American Bankers Mutual Insurance Ltd. -- the reinsurer for ABA’s endorsed insurance program -- will distribute $1.5 million to be shared by qualified member banks insured through ABA Insurance Services, Inc., the association announced today.

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Private Flood Insurance Proposal Aims to Ease Compliance

The FDIC, OCC, Federal Reserve, Farm Credit Administration and National Credit Union Administration today issued a proposed rule implementing the 2012 Biggert-Waters flood insurance reform law’s efforts to stimulate a robust marketplace for private flood insurance that would offer a competitive alternative to the National Flood Insurance Program.

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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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