Regulatory Updates

The Wyoming Department of Insurance issued a bulletin warning of a fraud scam targeting insurance licensees.

The Texas Department of Insurance named a new associate commissioner for the Customer Operations Division.

The Federal Reserve Board, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency approved a final rule to improve the sharing of information about cyber incidents that may affect the U.S. banking system. It requires banking organizations to notify their primary federal regulator of any significant computer-security incident within 36 hours of discovering the incident.

The Washington Office of the Insurance Commissioner adopted a rule requiring title agents to submit proof of ownership or leasing rights to the tract indexes for the counties they apply to operate in on the initial declaration of title insurance agent form. It also will require title agents to report any expansions of business into additional counties.

The Alaska Division of Insurance issued Bulletin B 21-07, regarding changes in licensing processes and fees. It stated this is part of a continuing effort to update requirements that bring Alaska into greater conformity with national licensing standards and streamline processes to be more efficient.

California Attorney General Rob Bonta announced the creation of a Housing Strike Force within the California Department of Justice (DOJ) and the convening of a series of tenant roundtables. Bonta also launched a housing portal on DOJ’s website with resources and information for California homeowners and tenants.

The Consumer Financial Protection Bureau, jointly with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp., the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators, announced a return to enforcement of critical protections for families and homeowners.

The New Mexico Office of the Superintendent of Insurance has proposed changes to its title insurance regulation. Comments are due by Nov. 29, the date a hearing on the proposed regulatory changes is scheduled.

The New York State Department of Financial Services (NYSDFS) issued final guidance to New York-regulated domestic insurers detailing NYSDFS’ expectations related to their management of the financial risks from climate change.

The Utah Department of Insurance has proposed amendments to the Unfair or Deceptive Acts or Practices Affecting Title to Real Property Rule. The Title and Escrow Commission approved the amendments at a Nov. 8, 2021 meeting by a vote of 3-0. Comments will be accepted until Jan. 3, 2022.