1 2014 National Update: Service Contracts Ancillary Products Timothy J. Meenan General Counsel to Service Contract Industry Council Motor Vehicle Ancillary Products Association Meenan PA Managing Shareholder P. O. Box Tallahassee, FL
2 2014 National Update SERVICE CONTRACT INDUSTRY COUNCIL MOTOR VEHICLE ANCILLARY PRODUCTS ASSOCIATION
3 2014 National Update SERVICE CONTRACT INDUSTRY COUNCIL Founded in 1988
4 SERVICE CONTRACT INDUSTRY COUNCIL Alaska House Bill 206 Motor Vehicle Service Contract Regulation Model Act language Excludes appearance care service contracts. Exemption from Insurance Code.
5 SERVICE CONTRACT INDUSTRY COUNCIL California Assembly Bill 1130 Home Protection Contracts (Passed Legislature) Amends existing home protection contract law Removes filing requirements for certain foreign home protection applicants : Financial statement certified by regulatory official Examination reports certified by regulatory official Replaces requirement of quarterly reports with annual reports.
6 SERVICE CONTRACT INDUSTRY COUNCIL Colorado House Bill 1199 Service Contract Regulation Consumer Goods Framework for Service Contracts on Consumer Goods Based on SCIC Model Act Defines Consumer Product Adds powersports vehicle to definition of motor vehicle in service contract statute Effective January 1, 2015.
7 SERVICE CONTRACT INDUSTRY COUNCIL Florida House Bill 291 Service Contract Law Amendment Electronic Delivery, Auto, Home, Consumer Goods Financial Requirements for Consumer Goods More CLIP options Insurer can be affiliated Eliminates unused CLIP exemption mechanism Effective July 1, 2014.
8 Florida House Bill 783 Financing Non-Discrimination Prohibits affiliated finance company from refusing acceptance or charging extra fee for acceptance of vehicle contracts (RISC, loan, etc.) solely because it includes a third party s automotive related product (Service contract, GAP waiver, etc.). Defines Terms Effective July 1, SERVICE CONTRACT INDUSTRY COUNCIL
9 Mississippi House Bill 581 Dealer Franchise Prohibitions Requires dealers selling third-party service contracts to disclose, orally and in writing, that the offered product is not provided or supported by a manufacturer or distributor. Also contains standard anti-coercion language. Criminal Penalty. Effective July 1, SERVICE CONTRACT INDUSTRY COUNCIL
10 SERVICE CONTRACT INDUSTRY COUNCIL New York Assembly Bill 7844 Manufacturer/ Distributor Anti-Coercion Allows manufactures to require that dealers selling third-party service contracts disclose in a separate statement acknowledged by the consumer that the offered product is not offered, endorsed, or sponsored by the manufacturer or distributor. Also contains standard anti-coercion language. Effective June 16, 2014
11 SERVICE CONTRACT INDUSTRY COUNCIL Oklahoma Senate Bill 387 Manufacturer/Distributor Anti-Coercion Prohibits: Using forms that don t conspicuously contain provider identify Requiring dealer to sell manufacturer endorsed products Motor Vehicle Commission can fine violators and deny, suspend, or revoke licenses. Effective November 1, 2014
12 SERVICE CONTRACT INDUSTRY COUNCIL Kentucky House Bill 133 Recreational Vehicle Dealer Franchise Creates a dealer franchise structure for recreational vehicles Adds recreational vehicles to RISC statute
13 SERVICE CONTRACT INDUSTRY COUNCIL Louisiana Senate Bill 135 Financial Reporting Requirements Home Service Contract Providers to provide solvency annual statement. Home service Contract Providers report due March 1, 2016 # HSC on residential Gross Consideration # and $ of claims paid # of claims denied due to no pre-approval Effective August 1, 2014
14 SERVICE CONTRACT INDUSTRY COUNCIL Louisiana House Bill 647 Auto Reporting Requirements Mechanical Breakdown Insurers must report corporate/structural changes to commissioner within 60 days. Fine up to $ day grace period for reinstatement if because of annual report or annual fee.
15 SERVICE CONTRACT INDUSTRY COUNCIL Michigan House Bill 4467 Service Contracts Service Contract is not insurance. Auto, Home, Consumer Goods. Defines: Consumer Product Service Contract Effective April 10, 2014
16 Mississippi House Bill 742 Recreational Vehicle Franchise Law Creates RV Franchise Law. Defines warrantor to include person not controlled by a manufacturer who sells service contracts, mechanical or other insurance, or extended warranties for consideration. Provides requirements for warrantors. Claim timelines Reimbursement terms Also requires sellers of third-party service contracts to disclose, orally and in writing, that the offered product is not provided or supported by a manufacturer or distributor. Effective October 1, 2014 SERVICE CONTRACT INDUSTRY COUNCIL
17 SERVICE CONTRACT INDUSTRY COUNCIL New Jersey Senate Bill 854 Service Contracts Establishes Service Contract Framework Covers Auto, Home and Consumer Goods Contains core disclosure and financial responsibility requirements No registration or annual fee Division of Consumer Affairs (not Banking & Insurance) Effective July 16, 2014
18 SERVICE CONTRACT INDUSTRY COUNCIL North Carolina House Bill 1050 Sales Tax on Service Contracts Auto, Home and Consumer Goods Omnibus Bill Tax Bill Provides clarity regarding the collection of sales and use tax on service contracts Service contracts are taxable Retailer is responsible for collection and remittance of the tax Retailer is responsible for tax redounds if service contract is canceled
19 SERVICE CONTRACT INDUSTRY COUNCIL Portable Electronics Insurance Legislation Explicitly Excluding Extended Warranties from Definition Connecticut House Bill 5023 Effective October 1, 2014 Massachusetts House Bill 3541 Effective April 23, 2014
20 2014 National Update MOTOR VEHICLE ANCILLARY PRODUCTS ASSOCIATION
21 MOTOR VEHICLE ANCILLARY PRODUCTS ASSOCIATION Oklahoma Senate Bill 1923 Amends Service Warranty Act Adds Ancillary Products Included: Tire & Wheel Paintless Dent Repair Windshield Repair or Replacement Key Fob Excluded: Dry Appearance Care Fuel or Oil Additives Effective November 1, 2014
22 MOTOR VEHICLE ANCILLARY PRODUCTS ASSOCIATION Indiana House Bill 1206 Motor Vehicle Service Contracts Replaces Bulletin 78 for Motor Vehicles. No license requirement; but must file CLIP. Does not include Home or Consumer Goods Authorizes ancillary products Framework includes: Financial requirements Disclosure requirements Insurance commissioner authority Bulletin 210 Effective July 1, 2014.
23 Virginia House Bill 69 Motor Vehicle Ancillary Products Amends definition of extended service contract to include: Tire & Wheel Paintless dent repair Windshield Repair Key Fob Protection Chemical Additives Other services as approved by Board of Agriculture and Consumer Services And Exclude: Fuel or oil additives Dry appearance care Clarifies that Extended Service Contracts are not insurance. Effective July 1, 2014 MOTOR VEHICLE ANCILLARY PRODUCTS ASSOCIATION
24 MOTOR VEHICLE ANCILLARY PRODUCTS ASSOCIATION Washington Senate Bill 5977 Ancillary Products and Financial Requirements Amends definition of Service Contract to include: Tire & Wheel Paintless dent repair Windshield repair or replacement Key Fob protection Any other service approved by director And exclude: Dry appearance care Fuel or oil additives. Service Contract Applicant Financial Docs Effective June 11, 2014
25 MOTOR VEHICLE ANCILLARY PRODUCTS ASSOCIATION Puerto Rico Insurance Commissioner Action Etch products deemed insurance Normative Letter Cease and Desist Reported Settlements
26 SCIC MVAPA Consumer Financial Protection Bureau Update
27 Consumer Financial Protection Bureau Update How will the CFPB s activities affect: Service Contracts? Ancillary Products? Key Fob Paintless Dent Repair Windshield Appearance Care (Wet and Dry) Vehicle Protection Products/Etch Guaranteed Asset Protection?
28 Authority of the CFPB Supervisory Authority Nondepository Covered Persons o Service providers Large Banks, Savings Associations, and Credit Unions o Service providers Other Banks, Savings Associations, and Credit Unions o Service Providers Enforcement Authority Any person the CFPB believes to be in possession, custody, or control of any material or information relevant to a violation is subject to a civil investigative demand. Prohibition on unfair, deceptive, or abusive acts or practices (UDAAP) by covered persons, service providers or any person providing assistance to a covered person or service provider in connection with a transaction involving a consumer financial product or service. Rule Making Authority
29 Consumer Financial Protection Bureau Update Unfair Deceptive or Abusive Act or Practice (UDAAP) Bureau may take action to prevent a covered person from engaging in an unfair, deceptive or abusive act or practice in connection with any transaction with a consumer for a consumer financial product or service It shall be unlawful for any person to knowingly or recklessly provide substantial assistance to a covered person or service provider in violation of the prohibition on UDAAP, or any rule or order issued thereunder, and notwithstanding any provision of this title, the provider of such substantial assistance shall be deemed to be in violation of that section to the same extent as the person to whom such assistance is provided.
30 Consumer Financial Protection Bureau Update Covered Person any person that engages in offering a consumer financial product or service. Consumer Financial Product or Service any of the following products or services offered or provided for use by consumers primarily for personal, family, or household purposes, or provided in connection with: Such other financial product or service defined by the CFPB by rule if the CFPB finds that the product or service is: o o Entered into as a subterfuge or with a purpose to evade Federal law; or Permissible for a bank to offer or provide under any provision of a Federal law or rule and has, or likely will have, a material impact on consumers.
31 Consumer Financial Protection Bureau Update Service Provider any person that provides a material service to a covered person in connection with the offering or provision of a consumer financial product or service. Participating in designing, operating, or maintaining the consumer financial product or service; or Processing transactions relating to the consumer financial product or service.
32 Consumer Financial Protection Bureau Update CFPB BULLETIN SERVICE PROVIDERS Service Provider any entity that provides a material service to a covered person in offering a consumer financial product or service. Banks & Non-banks must supervise service providers. CFPB can examine service providers including compliance with UDAAP. Banks must verify service provider compliance with consumer financial laws. Consumer financial laws include but are not limited to: Consumer Leasing Act Electronic Fund Transfer Act Equal Credit Opportunity Act Fair Credit Billing Act Fair Credit Reporting Act Home Mortgage Disclosure Act Real Estate Settlement Procedures Act Truth in Lending Act UDAAP
33 Consumer Financial Protection Bureau Update CFPB CONSENT ORDERS Allegations of unfair, deceptive or abusive marketing practices in telemarketing, inperson solicitation, written brochures alleging inadequate disclosure of material terms and conditions. Capital One Bank, July 2012 Discover Bank, September 2012 American Express, October 2012 GE Care Credit, December 2013
34 Consumer Financial Protection Bureau Update CFPB CONSENT ORDERS DISPARATE IMPACT Ally Financial/Ally Bank December 2013 Alleged discrimination against 235,000 minority borrowers. Violations of the Equal Credit Opportunity Act. Ally set base financing interest rate, dealers could mark up rate. African American borrowers on average paid 29 basis points ($300) more, Hispanics 20 basis points, Pacific Islanders 22 basis points ($200). $80 Million in damages, $18 Million in penalties establish a compliance plan. Must evaluate disparity, and new instances must trigger restriction or elimination of dealer discretion.
35 Consumer Financial Protection Bureau Update CFPB CONSENT ORDERS UNFAIR, DECEPTIVE OR ABUSIVE ACTS OR PRACTICES Bank of America, April 9, 2014 Credit card add-on products including credit protection product and identity protection products Failed to inform some customers they were purchasing products, or misrepresented terms o 30 day free but must cancel o Enrolling without consent o $25,000 death benefit but only waive up to $25,000 o Benefits are automatic but must file a claim
36 Consumer Financial Protection Bureau Update CFPB CONSENT ORDERS U.S. Bank and Dealers Financial Services, LLC PENALTIES OF $3.2 (U.S. BANK) AND $3.3 (DFS) MILLION Auto Loan Program Examination Violations of: o Truth in Lending; and o UDAAP DFS Program Functions o Dealer recruitment Dealers required to offer GAP insurance and service contract o Marketing (direct and otherwise) o Loan application review
37 Consumer Financial Protection Bureau Update CFPB CONSENT ORDERS U.S. Bank and Dealers Financial Services, LLC continued UDAAP Violations o Cost Disclosure Marketing materials indicated it would add just a few dollars to monthly payment when in actuality it broke down to more like $40 a month. o Exclusions Marketing materials do not disclose every individual part that is excluded from coverage. Above resulted in violation despite a disclosure to refer to actual terms and conditions for exclusions.
38 Consumer Financial Protection Bureau Update CFPB CONSENT ORDERS Synchrony Bank (GE Capital Retail Bank), June 19, 2014 Credit card balance cancellation product The bank engaged in deceptive marketing practices and violated ECOA Deceptive marketing practices included: Failed to inform customers they would be ineligible for benefit; Misrepresented cost; Misrepresented that product was a limited time offer; and Misrepresented that customer service representative on the phone was handling ministerial task as opposed to enrolling the customer in fee based product. ECOA violations included not extending certain offers to customers who indicated Spanish preferred on their accounts.
39 Consumer Financial Protection Bureau Update CFPB Bulletin Marketing of Credit Card APR Offers Bulletin is intended to help credit card companies avoid UDAAP violations in regards to promotional APR offers. Regulation Z does not require marketing materials to include additional disclosures alerting consumers to the effect of accepting a promotional offer on the loss of the grace period purchases. However, the CFPB is concerned that the marketing materials accompanying some offers may risk being deceptive or abusive in violation of the Dodd-Frank Act, even if Regulation Z is not violated.
40 Consumer Financial Protection Bureau Update Larger Participant Rule CFPB has authority to supervise nonbank larger participants of markets for other consumer financial products or services as the CFPB defines by rule. In late May the CFPB announced its intent to identify a market for auto lending and define larger participants of that market. Defining larger participants subjects them to CFPB s supervisory authority. Indiana Field Hearing
41 Consumer Financial Protection Bureau Update INDUSTRY BEST PRACTICES Compliance System with Respect to Consumer Protection Laws Product Development Marketing Development of Marketing Materials Telemarketing to Consumers Direct Mail Marketing Point of Sale Marketing Hiring & Retention of Sales Force Consumer Relation & Retention Product Fulfillment Claims Fulfillment Cancellations Compliant Handling Collection & Reporting of Data
42 Consumer Financial Protection Bureau Update Ancillary Products Inflection Points A. Are we a consumer financial product or service? B. Are we a covered person under the act? C. Are we service providers? D. Do we provide substantial assistance to a covered person or service provider? E. Are our products or services unfair, deceptive, or abusive? F. Are any of us a larger participant defined by CFPB rule? G. Does the business of insurance exemption apply to us? H. Will creditors be forced by the CFPB to take actions harmful to ancillary product sales? I. Can we do better in our marketing, claims, and other functions?
43 2014 National Update: Service Contracts Ancillary Products Timothy J. Meenan General Counsel to Service Contract Industry Council Motor Vehicle Ancillary Products Association Meenan PA Managing Shareholder P. O. Box Tallahassee, FL
SENATE STAFF ANALYSIS AND ECONOMIC IMPACT STATEMENT (This document is based on the provisions contained in the legislation as of the latest date listed below.) BILL: SB 2240 SPONSOR: SUBJECT: Senator Garcia
UNITED STATES OF AMERICA CONSUMER FINANCIAL PROTECTION BUREAU In the Matter of Dealers Financial Services, LLC, Lexington, Kentucky ADMINISTRATIVE PROCEEDING File No. 2013-CFPB-0004 CONSENT ORDER The Consumer
SURVEY OF SERVICE CONTRACT LEGISLATION (FORC Journal: Vol. 23 Edition 1 - Spring 2012) Alan J. Schmitz, Esq. (720) 200-4242 Over the past decade numerous jurisdictions have adopted new or updated service
1 Client Update CFPB Issues Final Auto Finance Larger Participant Rule and New Auto Finance Examination Procedures NEW YORK Matthew L. Biben firstname.lastname@example.org Courtney M. Dankworth email@example.com
January 2016 Military Lending Act It s time to get prepared The final rule has expanded the scope of covered products how does this impact your business? Overview A joint point of view by PwC s Consumer
Kinsale Insurance Company P. O. Box 17008 Richmond, VA 23226 (804) 289-1300 www.kinsaleins.com REAL ESTATE RELATED ERRORS & OMISSIONS APPLICATION APPLICANT S INFORMATION 1. Legal name of the business who
ASSEMBLY, No. 1756 STATE OF NEW JERSEY 215th LEGISLATURE PRE-FILED FOR INTRODUCTION IN THE 2012 SESSION Sponsored by: Assemblyman VINCENT PRIETO District 32 (Bergen and Hudson) Assemblyman PATRICK J. DIEGNAN,
1700 G Street, N.W., Washington, DC 20552 CFPB Compliance Bulletin 2015-06 Date: November 23, 2015 Subject: Requirements for Consumer Authorizations for Preauthorized Electronic Fund Transfers A. Introduction
Portfolio Media. Inc. 860 Broadway, 6th Floor New York, NY 10003 www.law360.com Phone: +1 646 783 7100 Fax: +1 646 783 7161 firstname.lastname@example.org The CFPB's 'UDAAPification' Of Consumer Protection
Public Act No. 15-162 AN ACT CONCERNING A STUDENT LOAN BILL OF RIGHTS. Be it enacted by the Senate and House of Representatives in General Assembly convened: Section 1. (NEW) (Effective October 1, 2015)
State Collision Repair Laws and Regulations Alabama In Alabama, the vehicle owner has the right to know that non-oem parts will be The logo, identification number or name of the manufacturer of all non-oem
HOUSE DOCKET, NO. 1374 FILED ON: 1/15/2015 HOUSE............... No. 258 The Commonwealth of Massachusetts PRESENTED BY: Angelo J. Puppolo, Jr. To the Honorable Senate and House of Representatives of the
SUBCHAPTER 03K - REVERSE MORTGAGES SECTION.0100 - ADMINISTRATIVE 04 NCAC 03K.0101 DEFINITIONS; FILINGS (a) As used in this Subchapter, unless the context clearly requires otherwise: (1) Terms defined in
REAL ESTATE PROFESSIONALS ERRORS AND OMISSIONS INSURANCE APPLICATION Notice This is an application for a policy that contains "Claims-made" liability protection. Coverage for prior acts and claims made
(S. B. 754) (No. 210) (Approved August 28, 2003) AN ACT To create an Act for the Prevention of Fraud in Telemarketing; to set forth its purposes and to establish penalties. STATEMENT OF MOTIVES In Puerto
Five Questions to Ask Before January 10, 2014 Courtney H. Gilmer, 615.726.5747, email@example.com 1. Compliance Procedures. Have you updated your written policies and procedures for each of your
2014 SESSION REPORT The Florida Legislature 2014 session saw the filing of 1812 bills; 264 of those bill passed. Florida Alliance for Consumer Protection followed 141 bills that stood to possibly impact
Title 9-A: MAINE CONSUMER CREDIT CODE Article 10: LOAN BROKERS Table of Contents Part 1. GENERAL PROVISIONS... 3 Section 10-101. SHORT TITLE... 3 Section 10-102. DEFINITIONS... 3 Part 2. REGISTRATION AND
State Regulatory Workshop: Legal and Regulatory Compliance Challenges and Opportunities for Credit Counseling Agencies Association of Independent Consumer Credit Counseling Agencies (AICCCA) 17 th Annual
June 10, 2010 2010 Legislative Amendments to the Indiana Code Relating to First Lien Mortgage Act (the Act ) Effective July 1, 2010 (except as otherwise indicated) Questions, Answers, and Administrative
MISCELLANEOUS PROFESSIONAL LIABILITY AND PREMISES LIABILITY INSURANCE APPLICATION THIS IS AN APPLICATION FOR CLAIMS-MADE AND REPORTED INSURANCE PROVIDED THROUGH HORIZON RISK INSURANCE, LLC. IT IS IMPORTANT
Exclusively Administered by: Pearl Insurance 1200 East Glen Avenue Peoria Heights, IL 61616-5348 1.800.289.8170 www.pearlinsurance.com REAL ESTATE PROFESSIONALS ERRORS AND OMISSIONS INSURANCE APPLICATION
REAL ESTATE PROPERTY MANAGERS SUPPLEMENTAL APPLICATION TO BE USED WITH COMMERCIAL GENERAL LIABILITY APPLICATION (ACORD 125) All questions must be answered in full Application must be signed and dated by
Name of Insurance Company to which Application is made PROPERTY MANAGER SUPPLEMENTAL APPLICATION This is a supplement to an application for a CLAIMS-MADE and Reported Policy. It is to be used solely in
00 STATE OF WYOMING 0LSO-00 HOUSE BILL NO. HB0 Rental car insurance. Sponsored by: Representative(s) Illoway, Ross and Simpson and Senator(s) Case and Hines A BILL for AN ACT relating to insurance; authorizing
CFPB and Real Estate Agents A course on the Consumer Financial Protection Bureau and its significant impact on real estate agents What is the Consumer Financial Protection Bureau (CFPB)? Independent agency
Kinsale Insurance Company P. O. Box 17008 Richmond, VA 23226 (804) 289-1300 www.kinsaleins.com MANUFACTURERS SUPPLEMENTAL APPLICATION COMMERCIAL GENERAL LIABILITY COMPLETE IN ADDITION TO ACORD APPLICATIONS.
Regulatory Practice Letter January 2013 RPL 13-01 Fair Lending CFPB Annual Report and Supervisory Highlights Executive Summary In December 2012, the Bureau of Consumer Financial Protection ( CFPB or Bureau
Title 10: COMMERCE AND TRADE Chapter 211-A: FRANCHISE LAWS FOR POWER EQUIPMENT, MACHINERY AND APPLIANCES Table of Contents Part 3. REGULATION OF TRADE... Section 1361. DEFINITIONS... 3 Section 1362. CIVIL
Chapter 24 Title Lending Registration Act Part 1 General Provisions 7-24-101 Title. This chapter is known as the "Title Lending Registration Act." 7-24-102 Definitions. As used in this chapter: (1) "Nationwide
HOUSE BILL No. 2114 AN ACT concerning the vehicle dealers and manufacturers licensing act; relating to vehicle bonds; amending K.S.A. 2000 Supp. 8-2404 and repealing the existing section. Be it enacted
Chapter 21 Credit Services Organizations Act 13-21-1 Short title. This chapter is known as the "Credit Services Organizations Act." Enacted by Chapter 29, 1985 General Session 13-21-2 Definitions -- Exemptions.
SPONSOR: Sen. Peterson & Rep. Hudson Sen. Sokola DELAWARE STATE SENATE 147th GENERAL ASSEMBLY SENATE SUBSTITUTE NO. 1 FOR SENATE BILL NO. 38 AN ACT TO AMEND TITLE 24 CHAPTER 40 OF THE DELAWARE CODE RELATING
In the matter of: STATE OF MICHIGAN DEPARTMENT OF LABOR & ECONOMIC GROWTH OFFICE OF FINANCIAL AND INSURANCE SERVICES Before the Commissionerof the Office of Financialand Insurance Services Premier Mortgage
Senate General Assembly File No. 757 February Session, 2014 (Reprint of File No. 191) Substitute Senate Bill No. 209 As Amended by Senate Amendment Schedule "A" and House Amendment Schedule "A" Approved
ACCIDENT INSURANCE CLAIM Employee Benefits ReliaStar Life Insurance Company A member of the ING family of companies Administered by: Your future. Made easier. SM Key Benefit Administrators, Inc., PO Box
MISCELLANEOUS PROFESSIONAL LIABILITY APPLICATION NOTICE: THIS IS AN APPLICATION FOR A CLAIMS MADE AND REPORTED POLICY, WHICH, SUBJECT TO ITS PROVISIONS, APPLIES ONLY TO CLAIMS WHICH ARE BOTH FIRST MADE
U.S. Franchise Law Basics BACKGROUND This page explains the basics about U.S. franchise law. Franchise law is complex. There are federal laws governing franchising, and there are state laws governing franchising.
To preserve competition among mortgage lenders, provide relief from unnecessary regulatory requirements on responsible community mortgage lenders, and for other purposes. introduced the following bill;
ACCIDENT INSURANCE CLAIM ReliaStar Life Insurance Company A member of the ING family of companies Administered by: Key Benefit Administrators, Inc., P.O. Box 1238 Fort Mill, SC 29716 Phone: 866-225-8704,
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION H HOUSE BILL Short Title: Regulate Reverse Mortgages. (Public) Sponsors: Representatives Brubaker, Easterling, Hasty, Ligon, Lineberry, Privette, and Woodard.
MOTOR VEHICLE DEALER SALESPERSON STUDY GUIDE MATERIALS 2201 West Broad Street, Suite 104 Richmond, Virginia 23220 804-367-1100 www.mvdb.virginia.gov MVDB 35 REVISED 07/01/15 INTRODUCTION This study guide
DEPARTMENT OF REGULATORY AGENCIES Division of Real Estate MORTGAGE LOAN ORIGINATORS 4 CCR 725-3 [Editor s Notes follow the text of the rules at the end of this CCR Document.] 1-1-1. [REPEALED EFF. 02/14/2011]
UNFAIR, DECEPTIVE, OR ABUSIVE ACTS OR PRACTICES (UDAAP) OVERVIEW Unfair, deceptive, or abusive acts and practices (UDAAPs) can cause significant financial injury to consumers, erode consumer confidence,
Producer Data Sheet Business Through Broker/Dealer, Broker/Dealer Affiliated Agency, or Bank Agency For Insurance License Appointment with Jackson National Life Insurance Company, Jackson National Life
CFPB and Lenders A presentation on the Consumer Financial Protection Bureau and its impact on the lending industry What is the Consumer Financial Protection Bureau (CFPB)? Independent agency of the United
Florida Department of Revenue Tax Information Publication TIP No: 08A01-04 Date: January 28, 2008 Motor Vehicle Sales Tax Rates by State As of January 29, 2008, and Tax Credit Application Motor Vehicles
OMC Complaints Handling Policy May 2015 I. Introduction A. Objective and Purpose of the Complaints Handling Policy Ocean Mortgage Capital, Inc. ( OMC ) seeks to maintain its reputation as a mortgage brokerage
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2015 SESSION LAW 2015-232 SENATE BILL 446 AN ACT TO PROVIDE FOR THE UNIFORM TREATMENT OF FRANCHISED DEALER LOANER VEHICLES; TO CLARIFY THAT AGENTS OR AGENCIES
OMS NATIONAL INSURANCE COMPANY, RRG NEW BUSINESS ENTITY PROFESSIONAL LIABILITY APPLICATION In order to expedite the application process, please be sure to answer all questions completely. Please be sure
INFORMATION BULLETIN #28WC SALES TAX AUGUST 2008 (replaces Information Bulletin #28WC, dated May, 2007) DISCLAIMER: SUBJECT: Informational bulletins are intended to provide nontechnical assistance to the
CUNA s COMPLIANCE HIGHLIGHTS TILA/RESPA INTEGRATED MORTGAGE DISCLOSURES For more than 30 years, Federal law has required lenders to provide two different disclosure forms to consumers applying for a mortgage.
ICBA Summary of the Military Lending Act Updated Regulation August 2015 Month Year Mon Contact: Joe Gormley Assistant Vice President & Regulatory Counsel firstname.lastname@example.org www.icba.org ICBA Summary
House Substitute for SENATE BILL No. 117 AN ACT regulating traffic; relating to transportation network companies, transportation network company services, regulation. Be it enacted by the Legislature of
ANNEX III SCHEDULE OF THE UNITED STATES HEADNOTES 1. Commitments in these sub-sectors under Chapter 11 () are undertaken subject to the limitations and conditions set forth in these headnotes and in the
Regulatory Practice Letter February 2014 RPL 14-05 CFPB Nonbank Supervision of International Money Transfer Providers Proposed Rule Executive Summary The Consumer Financial Protection Bureau (CFPB or Bureau)
Article 21. Reverse Mortgages. 53-255. Title. This Article shall be known and may be cited as the Reverse Mortgage Act. (1991, c. 546, s. 1; 1995, c. 115, s. 1.) 53-256. Purpose. It is the intent of the
This form must be completed for each new bond and at each premium anniversary. If more space is needed to answer any of the questions contained herein, attach additional sheets. Application is hereby made
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2013 SESSION LAW 2013-327 HOUSE BILL 616 AN ACT AMENDING THE SECURE AND FAIR ENFORCEMENT MORTGAGE LICENSING ACT TO PROVIDE FOR THE LICENSURE OF A TRANSITIONAL
Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Unfair or Deceptive Acts or Practices by State-Chartered Banks March 11, 2004 Purpose The Board of Governors of the
Overview of Financial Products and Consumer Protections Presented by the Consumer and Mortgage Lending Division, House Financial Institutions Committee January 23, 2014 Role of the CML Division The Consumer
Portfolio Media. Inc. 860 Broadway, 6th Floor New York, NY 10003 www.law360.com Phone: +1 646 783 7100 Fax: +1 646 783 7161 email@example.com DOL Whistleblower Rule Will Have Far-Reaching Effects
Proof of Group Death Claim The United States Life Insurance Company in the City of New York* PLEASE ANSWER ALL QUESTIONS FULLY AS THIS WILL HELP EXPEDITE THE EVALUATION OF THIS CLAIM. POLICYHOLDER S STATEMENT
West s Annotated MISSISSIPPI CODE Using the Classification and Numbering System of the Mississippi Code of 1972 Title 73 Professions and Vocations 2002 Cumulative Annual Pocket Part Chapter 60 HOME INSPECTORS
Home Inspectors Professional Liability Application 1. Contact Information: Name of Applicant: Work : Cell : Street Address: Email: City: State: Zip: 2. Business Information Business Name: Years experience
AMENDED IN ASSEMBLY JANUARY 6, 2014 california legislature 2013 14 regular session ASSEMBLY BILL No. 335 Introduced by Assembly Member Brown February 13, 2013 An act to amend Section 14602.6 of the Vehicle
Consumer Protection and Unfair Competition Law LOEB & LOEB adds Knowledge. ALERT April 2010 Updated Summary of Proposed California Debt Settlement Act (AB 350) By Michael L. Mallow and Michael A. Thurman
1. Applicant Information A) Name (First named insured and other named insureds) OWNED AUTO LIABILITY B) Do you own any vehicle (in your company s name)? If yes, who is the insurer of these vehicles? C)
california legislature 2013 14 regular session ASSEMBLY BILL No. 2293 Introduced by Assembly Member Bonilla February 21, 2014 An act to amend Section 11580.24 of the Insurance Code, relating to motor vehicle
GENERAL ASSEMBLY OF NORTH CAROLINA 1991 SESSION CHAPTER 546 HOUSE BILL 22 AN ACT TO REGULATE REVERSE MORTGAGES. The General Assembly of North Carolina enacts: Section 1. Chapter 53 of the General Statutes
REPORT ON LIMITED LINES INSURANCE JANUARY 15, 2014 MSAR No. 9844 For more information concerning this document, please contact: Nancy J. Egan Assistant Director of Government Relations Maryland Insurance
Office of Financial Regulation Alisa Goldberg Chief, Bureau of Registration Division of Securities 1 History The Office of Financial Regulation (OFR) was created in 203 by section 20.121(3), Florida Statutes,
Senate Bill No. 373 Senator Hardy CHAPTER... AN ACT relating to insurance; providing for the licensure of a producer of limited lines travel insurance; authorizing such producers to offer and disseminate