Legislative Developments

Illinois Gov. Bruce Rauner signed legislation that amends the Predatory Lending Database Article of the Residential Real Property Disclosure Act. Among other things, it makes changes to the information that must be collected and submitted by the title insurance company or closing agent. Read on for more details.

During the House Financial Services Subcommittee on Financial Institutions and Consumer Credit’s hearing on “Legislative Proposals for a More Efficient Federal Financial Regulatory Regime,” Rep. French Hill (R-Ark.), spoke about his proposal to introduce legislation to improve TRID. Read on for more details.

During its summer meeting in August, the National Association of Insurance Commissioners Cybersecurity Working Group and Innovation and Technology Task Force adopted the Insurance Data Security Model Law. Read on to find out what the model law contains.

Illinois Gov. Bruce Rauner signed legislation that amends the state’s Title Insurance Act to allow independent escrowees to issue insured closing letters. Read on for more details.

Congress is back in session and the House Financial Services Subcommittee on Financial Institutions and Consumer Credit is kicking off the fall by holding a hearing entitled “Legislative Proposals for a More Efficient Federal Financial Regulatory Regime.” Among the items on the list is draft legislation that would address the simultaneous rate issue impacting many states. Read on for more details.

Nevada Gov. Brian Sandoval signed legislation authorizing the recording of certain real documents and limit the actions constituting easements by prescription under certain circumstances. Read on for more details.

A bill requiring counties in Illinois to establish a predictable recording fee schedule by 2019 was signed by the governor Aug. 22. Read on for more details.

The Delaware General Assembly has adopted legislation that revises the state’s data breach statute. Read on for more details.

A bill passed in April by the Colorado legislature took effect Aug. 9. It enacts the Revised Uniform Law on Notarial Acts, as amended by the National Conference of Commissioners on Uniform State Laws in 2016. Read on for the details.

Washington Gov. Jay Inslee recently signed into law a notary statute which is substantially similar to the Revised Uniform Law on Notarial Acts (RULONA). The law will take effect in the summer of 2018. Read on for the details, including the ways in which it differs from RULONA.