News By Edition

Emergency video notarizations now are authorized temporarily under North Carolina law for most notarial acts until Aug. 1, 2020, as a result of the State of Emergency related to the COVID-19 pandemic. Read on for more details.

MISMO announced the issuance of standardized closing instructions, templates creating a common format for closing instructions. They are intended to improve communication between lenders and settlement agents. Read on for more details.

Several senators announced plans to introduce the COVID-19 Consumer Data Protection Act. The legislation would provide all Americans with more transparency, choice, and control over the collection and use of their personal health, geolocation, and proximity data. The bill also would hold businesses accountable to consumers if they use personal data to fight the COVID-19 pandemic. Read on for more details.

As part of its plan to help consumers facing financial emergencies to obtain access to mortgage credit quickly in the middle of the COVID-19 pandemic, the bureau issued an interpretive rule clarifying that consumers can exercise their rights to modify or waive certain required waiting periods under TRID and the Regulation Z rule. Read on for more details.

Two businessmen have been charged in the District of Rhode Island with allegedly filing bank loan applications fraudulently seeking more than a half-million dollars in forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. These are the first charges of Paycheck Protection Program Fraud. Read on for more details.

Maryland Gov. Larry Hogan announced the appointment of a new insurance commissioner to replace the outgoing insurance commissioner, who was appointed executive director of the Maryland Auto Insurance Fund. Read on for more details.

A Realtor from Bronx, N.Y., was sentenced after being convicted of conspiracy to commit wire and mail fraud affecting a financial institution. Read on for more details.

After being arrested for drug trafficking, the former owner of property in Southfield, Mich., sought to provide for his children by transferring the property to their mother’s brother. The mother moved into the property and eventually sought to sell it. When the buyer purchased the property, he was aware of a cloud on title regarding the quitclaim deed, but went ahead with the purchase. The former owner then filed suit against the buyer. Read on for more details.

West Virginia Gov. Jim Justice signed into law the Uniform Real Property Electronic Recording Act. Read on for more details.

Washington Insurance Commissioner Mike Kreidler filed emergency rules that will help insurance producers during the state of Washington’s Stay Home, Stay Healthy order. Insurance producers are people who are licensed to sell insurance in Washington state. Read on for more details.

In an effort to aid the state of Tennessee’s economic recovery, the Tennessee Department of Commerce and Insurance (TDCI) announces a new program to provide temporary insurance producer licenses to qualified individuals who have been unable to complete their licensing tests. Read on for more details.

U.S. Attorney David C. Weiss and Delaware Attorney General Kathleen Jennings announced the formation of a new Coronavirus (COVID-19) Anti-Fraud Coalition, aimed at better protecting the citizens of Delaware from criminal and civil fraud arising from the pandemic. Read on for more details.

The Consumer Financial Protection Bureau (CFPB) announced the addition of a geospatial view to the Consumer Complaint Database. With this addition, consumers now will be able to view complaints by state with a U.S. map visualization. Read on for more details.

New York Superintendent of Financial Services Linda A. Lacewell announced the appointment of a new general counsel of the New York State Department of Financial Services. Read on for more about the new hire.

The Massachusetts Legislature enacted a law providing for virtual notarization to address challenges related to COVID-19. Read on for more details.

Because its licensing vendor suspended operations, the Michigan Department of Insurance and Financial Services will offer new producer license applicants temporary licenses. Read on for the requirements for these temporary licenses.

A former claims counsel sued his former employer and its chief claims counsel and general counsel, alleging discrimination in violation of Title VII of the Civil Rights Act of 1964 and the Illinois Human Rights Act. Read on for more details and the court’s decision.

The New Mexico Office of the Superintendent of Insurance is asking all insurers authorized to transact business in New Mexico to update its regulatory compliance/government relations contact information to ensure the distribution of regulatory directives. Read on for more details.

Wisconsin Insurance Commissioner Mark Afable announced that insurance agent licensing exams now can be taken online using a platform called ProProctor from Prometric. Read on for more details.

Pennsylvania Insurance Commissioner Jessica Altman announced that the insurance department submitted to the Pennsylvania Bulletin a notice which outlines the process for the issuance of temporary producer licenses to those qualifying individuals desiring to become Pennsylvania resident insurance producers during the COVID-19 pandemic. Temporary licenses will be permitted only for individuals who are sponsored by an insurance company holding an active certificate of authority in Pennsylvania and authorized to write the lines of insurance for which the individual is applying. Read on for more details from the announcement.