Regulatory Updates

The Texas Department of Insurance, in cooperation with Gov. Greg Abbot’s Texas Regulatory Efficiency Office, is seeking stakeholder comments as part of its current regulatory efficiency review. Reforms to title insurance rules are expected to comprise part of the review.

The California Department of Financial Protection and Innovation announced on July 7 that nearly 3,000 consumers, mainly from Filipino, Chinese, and Hispanic communities, will receive checks totaling over $7 million in restitution for securities fraud.

Gov. Gavin Newsom announced on July 1 that Rohit Chopra, former director of the Consumer Financial Protection Bureau, had been sworn in as secretary of the newly-created California Business and Consumer Services Agency.

California’s Department of Financial Protection and Innovation announced on July 1 that five financial companies were being compelled to return more than $1.3 million to customers charged excessive commissions.

In a recent bulletin, the Texas Department of Insurance reminded all regulated entities that they must ensure their decisions and actions, especially those influenced by advanced technologies like artificial intelligence, comply with existing insurance laws and regulations.

During a meeting with Brooklyn homeowners, New York Gov. Kathy Hochul outlined the state’s ongoing efforts to combat deed theft, including an announcement that her office had secured $4.5 million for enforcement and education to prevent deed theft.

Commissioner James Brown announced on June 24 that, due to settlements reached with entities that failed to properly file required notices, approximately $60,000 has been added to Montana’s Securities Fraud Restitution Assistance Fund for 2026.

In a new executive order, New Jersey Gov. Mikie Sherrill instructed state agencies to review how junk fees affect consumers and suggest measures to reduce or eliminate them by Sept. 14. The office of the attorney general and the Division of Consumer Affairs also released an enforcement statement on junk fees, detailing how certain practices may violate New Jersey law.

On June 8, Andy Wilson officially took office as Ohio’s 52nd attorney general after being sworn in at the Clark County Common Pleas Court, where he previously served as the county prosecutor.

West Virginia Gov. Patrick Morrisey announced on June 12 that he had formally appointed Erin Hunter to the office of insurance commissioner, effective July 1.