…and more insights from ABA’s Compliance Center Inbox in the July/August issue of the ABA Banking Journal.
Cyber threats and data breaches aren’t letting up. Cyber insurance can be an important part of your response plan.
Amid a record-setting wave of disaster losses in 2017 — including from Hurricanes Harvey, Irma and Maria, plus wildfires in the West — small businesses’ insurance gaps meant that credit availability was a key factor in their ability to recover, according to a report today from the Federal Reserve Banks of New York, Dallas, Richmond and San Francisco.
Maryland Gov. Larry Hogan yesterday signed emergency legislation that would fix a state law inadvertently preventing hundreds of thousands of Marylanders with high-deductible health plans from contributing to their health savings accounts.
As banks continue to face threats from cyber incidents, the Federal Financial Institutions Examination Council today issued a joint statement on how it views the role of cyber insurance in banks’ overall risk management strategies.
A little after midnight this morning, the Senate voted to pass a $1.3 trillion spending bill that will fund the government through the end of the fiscal year on Sept. 30.
In a letter to lawmakers today, ABA’s Health Savings Account Council applauded a bipartisan measure that would allow HSA plans the option to cover high-value health care services and medications associated with chronic disease management without a deductible.
In a comment letter to the Department of Defense today, ABA called on the Pentagon to repeal a section of the amendments to its Military Lending Act interpretive rule relating to service members’ ability to finance the purchase of Guaranteed Acceptance Protection insurance with a loan used to purchase the vehicle.
As part of the short-term deal to fund the government until mid-January, Congress has extended authorization for the National Flood Insurance Program until Jan. 19, 2018.
The Federal Emergency Management Agency last week published guidance for Write Your Own private insurance companies on how to how to handle a potential lapse in National Flood Insurance Program authority.