Federal Reserve Gov. Lisa Cook called for weighing the costs and benefits of artificial intelligence, and flagged bias and fraud as areas of concern.

The program lapsing would've precluded mortgage applicants from closing on home loans without the required coverage in federally designated flood zones.

A member of a homeowners association explained the higher cost, lower coverage plan it now has, and supported Consumer Watchdog's advocacy.

Consumer Watchdog officials, in remarks before and during a hearing of the Assembly's Insurance Committee, stressed requiring insurers to provide standard policies to homeowners who fireproof their property, countering Commissioner Ricardo Lara's proposed deal with insurers promising more coverage in wildfire distressed areas.

The Federal Housing Finance Agency has agreed to more regular checks on the government-sponsored enterprises' flood compliance, which impacts mortgage companies.

USAA, MMG Insurance and Munich Re executives spoke about these insurers' efforts to model risk and use data proactively to serve policyholders and prevent bias.

A Billings, Montana-based First Interstate Bank agreed to a five-figure penalty to resolve charges it engaged in National Flood Insurance Act violations.

Banks are concerned about the lack of clarity regarding legal liability in the Consumer Financial Protection Bureau's open banking rule, and fear that they will end up on the hook for data breaches or unauthorized transactions caused by a fintech or data provider.

The revisions also revise how the surplus is calculated to evaluate risk of the bonds used as part of the available asset portion of the capital requirements.

The military-focused company, which operates an insurer and a $111.7 billion-asset bank, has tangled with regulators during Wayne Peacock's tenure. He will retire in the first half of 2025.