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Wednesday, August 27, 2014

ABIA Webinar on Complying with the Military Personnel Financial Services Protection Act

Today at 2:00pm ET, the ABIA is hosting a compliance webinar on the Military Personnel Financial Services Protection Act, through which states and the federal government have established many requirements for selling insurance products to military employees and their families. Learn how to avoid potential pitfalls in this webinar. An open Q&A session will follow, where counsel will answer any of your compliance questions. In addition, this course has been approved for Certified Regulatory Compliance Manager (CRCM) Continuing Education credit. Register now.

In related news, several banks and mortgage servicers yesterday announced a voluntary initiative with the White House to make it easier for active-duty service members to refinance their home loans to lower rates and payments. The initiative will help service members receive benefits they may not have known they were eligible for.

Under the initiative, the firms -- including Bank of America, Citigroup and Wells Fargo -- will work at least quarterly with the Defense Department to identify active-duty service members and their spouses who would qualify for rate reductions under the Servicemembers Civil Relief Act. They will proactively contact the eligible service members and simplify the application process.

Read more about the initiative.