Regulatory Updates

Promising his administration will hit the ground running, President Joe Biden announced a slew of nominations days before his inauguration, including Rohit Chopra as the director of the Consumer Financial Protection Bureau. What does this mean for the industry? Industry experts say his past opinions may hold some clues.

Ohio Gov. Mike DeWine announced his nomination for director of the Ohio Department of Insurance. The new director would take over for Interim Director Tynesia Dorsey. Read on for more details.

The California Department of Financial Protection and Innovation has issued proposed escrow rules regarding establishing, maintaining and preserving escrow books and records, clarifying CPAs’ role in annual audit reports, and clarifying certain definitions and what are considered prohibited escrow referral compensation acts. Read on for more details.

The Federal Trade Commission warned small businesses of a new COVID-19 related scam targeting them. Read on for more details.

Nebraska Insurance Director Bruce Ramge announced his retirement after 10 years in his position. He is the longest-serving insurance director in state history. Read on for more details.

Commissioner of Securities and Insurance, Montana State Auditor Troy Downing, recently appointed a new deputy state auditor, the highest-ranking appointment in the agency. Read on for more details.

The 37th commissioner of the Virginia State Corporation Commission was sworn into office to complete the unexpired term of Mark Christie, who became a member of the Federal Regulatory Commission on Jan. 4, 2021. Read on for more details.

With the new California Consumer Financial Protection Law now in effect, the Department of Financial Protection and Innovation (DFPI) has expanded powers to better protect consumers from unlawful, unfair, deceptive, and abusive practices. Read on for more details.

In Insurance Bulletin 20-20, the Missouri Department of Commerce and Insurance informed title insurers and title agents it renewed a waiver of on-site review requirements during the COVID-19 emergency. Read on for more details.

New York Gov. Andrew Cuomo extended until Jan. 29, 2021, the executive order authorizing notarizations to be performed using audio-video technology. Read on for more details.