Bank Civil Money Penalties Insurance Update

A note from a client today - to his agent, cc to me:~~~~~Bob (not the agent's real name), With the many new laws, regulations and agencies to enforce them, we are concerned about the possibility of errors in the mortgage lending area and possible fines related thereto.  It is our understanding that it is possible for the institution, and the loan … [Read more...]

Civil Money Penalties Insurance & Banks

Lots of heat (and little light) lately in the discussion of civil money penalties insurance within bank directors' and officers' insurance.     I talked with a client today on the issue and promised a letter he could send to his attorney.  (Names changed...)   ~~~~~~~~~~~ Bill and Steve,   We discussed the issue of civil money penalties … [Read more...]