Insurance News
Regulatory updates in plain English
Stay current with the latest from CMS, state departments of insurance, NAIC, the Federal Register, and Congress — rewritten so you can actually understand what it means for your practice.
Governor Hochul Announces New Nation-Leading Regulation to Establish Comprehensive Consumer Protections For Buy Now, Pay Later Loans
Governor Hochul has introduced new rules to protect consumers who use Buy Now, Pay Later loans. This regulation aims to ensure that borrowers have clear information about their loans and can make informed decisions. Insurance agents should be aware of these changes as they may impact clients who use...
Third-Party Servicing of Indirect Vehicle Loans
The NCUA Board has decided to change its rules about how credit unions can work with third parties to manage indirect vehicle loans. This change will make it easier for federally insured credit unions to operate without strict regulations, helping them save money and reduce complicated compliance pr...
Limits on Loans to Other Credit Unions
The NCUA Board has changed the rules regarding loans between credit unions. They have decided to remove specific regulations that required approval and policies for these loans. However, federal credit unions still need to follow existing laws about lending to other credit unions, and state-chartere...
Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks; Bank Holding Companies
The Board is seeking public feedback on changes to Regulation O, which regulates loans from member banks to their executives and major shareholders. The updates aim to make the rules clearer, reduce unnecessary regulations, and ensure they reflect current laws. Additionally, the changes will adjust ...
Direct Multifamily Housing Subsequent Loans for Acquisition
The Rural Housing Service (RHS) is changing its rules to allow owners of multifamily housing to use government loans to help buy properties. This means that if a property was originally financed by the RHS, the owner can now apply for funds to assist with purchasing it again. This change aims to mak...
Third-Party Servicing of Indirect Vehicle Loans
The NCUA Board is proposing a new rule that would make it easier for credit unions to work with third parties when servicing indirect vehicle loans. This change aims to lessen strict regulations, allowing credit unions more freedom to operate. As a result, credit unions can save on costs and simplif...