News By Edition

California Attorney General Xavier Becerra recently released a revised version of the proposed California Consumer Privacy Act regulations. Written comments will be accepted until Feb. 25 at 5 pm PST. Read on for more details.

The Securities and Exchange Commission Commission’s Office of Compliance Inspections and Examinations (OCIE) issued examination observations related to cybersecurity and operational resiliency practices taken by market participants. Read on for more details.

A national underwriter paid a firm to represent its insured lender to litigate a case against the borrowers, seeking reformation of the deed of trust. After a court ruled in favor of the borrowers, due to lack of standing to bring the suit, the underwriter filed suit against the firm for legal malpractice and breach of contract. Read on for more details.

The Credit Union National Association reported it is addressing a cyber incident that caused an outage affecting some of its IT systems. Read on for more details.

The New Hampshire General Court is considering a bill that would establish a commission to study the adoption of remote online notarization in the state. Read on for more details.

The Property Records Industry Association approved and published a paper on Best Practices: Decreasing Document Rejections. The best practices identified provide a basis for developing training and education efforts for recorders and submitters. Read on for more details.

After an insured title agent filed a claim for defense and indemnification in a lawsuit filed against it, its professional liability insurer filed suit against the agent. It argued that the agent should have known about the claim when it was subpoenaed by the plaintiff in a related case when applying for coverage. Read on for more details.

A federal grand jury in Atlanta returned an indictment last week charging four members of the Chinese People’s Liberation Army (PLA) with hacking into the computer systems of the credit reporting agency Equifax and stealing Americans’ personal data and Equifax’s valuable trade secrets. Read on for more details.

Building on Gov. Andrew Cuomo’s sweeping consumer-protection proposals , Financial Services Superintendent Linda Lacewell announced that the Department of Financial Services will be holding consumer-protection hearings to hear directly from consumers about their experiences with financial products and services, such as debt collection, auto lending practices, access to banking and financial services, and other consumer related issues. Read on for more details.

U.S. District Judge John A. Mendez sentenced two Sacramento residents each to two years in prison for conspiring to commit wire fraud. The two had been convicted at a jury trial in April.

The Tennessee Department of Commerce and Insurance announced the recent appointment of a new director of the insurance division. Read on for more details.

A federal jury has found a Jacksonville, Fla., Realtor guilty of one count of conspiracy to commit bankruptcy fraud and six counts of bankruptcy fraud. She faces a maximum penalty of five years’ imprisonment on each count. Read on for more details.

A former Oakland County, Mich., title owner was sentenced for in his role in a bank fraud conspiracy, becoming the sixth defendant convicted as a result of an investigation. Read on for more details.

The Illinois General Assembly is considering a bill that would establish that fees for copies of certified and non-certified copies of records apply to copies of records that are maintained in any format. It also would establish that counties that have adopted a predictable recording fee schedule would charge a standard copy fee as provided under the county’s predictable fee schedule for certified copies. Read on for more details.

Maryland Insurance Commissioner Al Redmer Jr. named a new assistant director of government relations for the Maryland Insurance Administration. Read on for more details about the new hire.

After discovering that a property used as secondary collateral had been sold and the debtor had defaulted on its loan to purchase a hotel in Lincoln, Mont., a bank held a non-judicial foreclosure sale of the hotel. It placed a full-credit bid of the money the debtor owed, then filed suit to recover the deficiency between what it was owed and the price for which it eventually sold the hotel. Read on for more details.

On Jan. 22, Tillamook County, Ore., county officials confirmed a cyber attack had taken place, leaving all internal computer systems and the Tilamook County website down. The county website hosts numerous departments. Read on for more details.

Maryland Insurance Commissioner Al Redmer Jr. has named a new deputy commissioner for the Maryland Insurance Administration. Read on for more about the new appointment.

First American Financial Corp.’s Loan Application Defect Index showed a slowdown in the decline of mortgage fraud risk in December. Read on for more details.