 |
 Home Contact Us ABA.com
|
 |
Issues
Lender-Placed Insurance
- ABIA Lender-Placed Fact Sheet
- UPDATED: Chart that compares LPI provisions from CFPB SBREFA Panel, Dodd-Frank, the mortgage servicing settlement and Fannie Mae Guidelines - April 13, 2012
- ABIA Summary of the March 14th Fannie Mae Servicing Guide Changes to LPI - March 22, 2012
- Fannie Mae Servicing Guide: Updates to Lender-Placed Property Insurance and Hazard Insurance Claims Processing - March 14, 2012
- Attorney Generals' Mortgage Servicing Settlement Section on Lender-Placed Insurance - March 12, 2012
- CFPB Director Cordray's Comments on Lender-Placed Insurance before the National Association of Attorneys General - March 6, 2012
- Fannie Mae Mortgage Servicing News Bulletin on Lender-Placed Insurance - March 6, 2012
- ABIA Comment Letter to the CFPB on Lender-Placed Insurance Disclosure Forms - January 13, 2012
Regulatory Modernization
ABIA supports an Optional Federal Charter (OFC) for Insurance Companies and Insurance Producers for all lines of coverage. Follow the links below to see draft legislation, testimony and supporting documents. ABIA also supports full implementation of the Gramm-Leach-Bliley Act. To see information on regulations implementing GLBA, including ABIA's comments to federal agencies, follow the links below.
- Joint letter to the NIMA states in support of the Kentucky Compromise
- The National Association of Registered Agents and Brokers Reform Act of 2011 (NARAB II)
Summary of Managers Amendment to Senator Dodd's Regulatory Reform Proposals - Summary of Senator Dodd's Regulatory Reform Proposals
- Summary of the Consumer Financial Protection Agency Act of 2009
- The Smart Act - Oxley/Baker Draft Legislation
- Optional Federal Charter
- State Initiatives - NCOIL, NCSL
- Gramm-Leach-Bliley Act Implementation
Federal Preemption
The Gramm-Leach-Bliley Act (GLBA) includes the Barnett preemption standard to which national banks may refer if state law interferes with the bank's ability to engage in the insurance business. ABIA has actively promoted state adoption of GLBA principles and filed amicus briefs supporting federal preemption of state insurance laws that do not comply with GLBA. Read those documents here.
Debt Management
Banks insure or manage the debts of millions of Americans. Follow the links below to find information pertaining to the regulatory treatment of credit insurance, debt cancellation contracts and debt suspension agreements.
- GAO Report on debt cancellation and suspension products, released on March 25, 2011.
- White Paper: DCCs and DSAs
- Credit Insurance
- Debt Cancellation Contracts/Debt Suspension Agreements
- Predatory Lending
NAIC Activities
The National Association of Insurance Commissioners (NAIC) meets 4 times a year. See ABIA's reports on the proceedings, comment letters addressing NAIC model laws and other documents addressing state regulation of the insurance industry.
Privacy
What are the limits for sharing customer account information with third parties or affiliates? Find out here. Follow the links to see state and federal legislation as well as individual regulations.
- The Restore Online Shoppers' Confidence Act: Based on Congress' concern that the undisclosed passing of consumers' billing information amounts to a deceptive marketing tactic.
Regulation
Legislation
Terrorism
The attacks on the World Trade Center were the largest insured losses ever faced by the Insurance Industry. In 2002, Congress passed legislation supporting the insurance industry should costs from another terrorist attack overwhelm the market's ability to compensate victims.
As banks grow their distribution networks and their product offerings they are increasingly responsible for management of employee benefit plans, individual health plans, small group plans and Health Savings Accounts. Follow the links below to find compliance and other tools pertaining to these products.Bank distribution of annuities accounts for about 67% of the total premium written through all banks. Generally, annuities return either a fixed percent of assets under management or a variable percent of assets under management depending upon the investment growth or decline of the annuity's portfolio. The links below have important information about annuities and the regulatory issues pertaining to them.
- Sale of Annuities and Life Insurance to Military Personel (Florida)
- Suitibility and Continuing Education Regulation (Florida)
Contact ABIA Government Relations
Questions? Please contact ABIA's Executive Director Kevin McKechnie for more information