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Monday, May 13, 2013

Does the CFPB have Jurisdiction over Insurance Products?

By ABIA Outside Counsel Chrys Lemon and Adam Maarec, McIntyre & Lemon, PLLC
The Dodd-Frank Wall Street Reform and Consumer Protection Act specifies the scope of the Consumer Financial Protection Bureau’s (CFPB) jurisdiction over consumer financial products and services, which is specifically defined to exclude the business of insurance. Recent actions from the CFPB demonstrate that it is taking an expansive view of its authorities.

Read more about the scope of the CFPB’s jurisdiction over insurance products, prepared just for bank-owned agencies that are members of ABIA. If you are having trouble logging on or you are with a member that is not a bank, please contact us and we will email you a copy of the article.

ABIA members may access a wealth of compliance information on our compliance page. If you need help logging in, please contact us and we will be happy to assist you.