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Federal banking agencies update Q&A on flood insurance

Nutter McClennen & Fish LLP
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USA
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October 31 2011

The federal bank regulatory agencies have issued revisions to the Interagency Questions and Answers Regarding Flood Insurance that were most recently published on July 21, 2009

Insurance producers and credit risk retention

Nutter McClennen & Fish LLP
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USA
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June 30 2011

The Massachusetts Division of Insurance (the “DOI”) issued a bulletin on June 3 to notify resident insurance producers licensed in Massachusetts, including licensees employed by banks, that the DOI will review their compliance with continuing education (“CE”) requirements

FDIC approves final rule to change deposit insurance assessments

Nutter McClennen & Fish LLP
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USA
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February 28 2011

The FDIC issued a final rule on February 7 that implements changes to the deposit insurance assessment system required by the Dodd-Frank Act, which changed the deposit insurance assessment base from adjusted domestic deposits to average consolidated total assets minus average tangible equity

Report: CFPB may exercise authority without a Senate-confirmed director

Nutter McClennen & Fish LLP
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USA
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February 28 2011

The Inspectors General of the Treasury Department and the Federal Reserve have delivered a report concluding that the Bureau of Consumer Financial Protection (CFPB) may exercise a wide range of rule-making and examination powers even if the CFPB does not have a Senate-confirmed Director by the "designated transfer date

SBLI charter statute repealed

Nutter McClennen & Fish LLP
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USA
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August 30 2010

Chapter 176 of the Acts of 2010, signed by Governor Patrick on July 25, repeals Mass. Gen. Laws Chapter 178A, the statute that establishes the Savings Bank Life Insurance Company of Massachusetts (SBLI

Senate approves comprehensive financial regulatory reform bill

Nutter McClennen & Fish LLP
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USA
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May 28 2010

The U.S. Senate has approved its version of comprehensive financial regulatory reform legislation, the Restoring American Financial Stability Act of 2010, which must now be reconciled with a similar bill that was approved by the U.S. House of Representatives on December 11, 2009, the Wall Street Reform and Consumer Protection Act of 2009