Rep. Michele Bachmann, R-Minn., plans to introduce legislation repealing the Dodd-Frank financial services law, calling it “misguided” and a “blatant abuse of power.”
Rep. Michele Bachmann, R-Minn., plans to introduce legislation repealing the Dodd-Frank financial services law, calling it "misguided" and a "blatant abuse of power."
Coping with the uncertainty of the Dodd-Frank Act and the newly-formed Consumer Financial Protection Bureau (CFPB) will be among U.S. financial institutions' foremost concerns in 2011.
Property/casualty insurance companies "do not have the characteristics of a firm that pose a system risk," and therefore should not be subject to federal oversight, a coalition of large insurers told federal regulators.
A regulatory lawyer raised concerns about a new proposed FDIC rule dealing with resolving troubled insurers that the federal agency believes constitute potential systemic risk to the financial system.
The new Financial Stability Oversight Council is seeking input about what criteria should be used in placing non-bank financial companies, such as insurers, under its federal scrutiny.
Insurers and other non-bank financial companies are being asked for feedback regarding the extent of oversight authority the new Financial Stability Oversight Council (FSOC) should have.
While architects, engineers, lawyers, consultants, and other professionals are finding policies at very affordable rates, those in the financial services and real estate arenas are encountering tight capacity, exclusions, and high prices.
With an historic financial services regulatory reform bill about to enter the home stretch on Capitol Hill, insurance industry groups will keep lobbying to craft an acceptable compromise in reconciling the House and Senate versions.