What’ s now HPB Insurance Group is not only still around but is in growth mode as it marks its 120th anniversary. “It makes perfect sense for banks and insurance to be married together because every bank customer needs insurance, and every insurance customer needs a bank,” said HPB Insurance Group Principal Slade Lewis. When the bank was bought first by Bank of North…
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Democrats came together in near unison to defeat the measure on a 44-48 vote, with only Pennsylvania Sen. Democrats blocked the resolution, which would fund government until Nov. 21, after Republicans defeated an alternative Democratic proposal to fund government until Oct. 31, extend health insurance subsidies and restore nearly $1 trillion in Medicaid…
With the administration of Gov. Ron DeSantis moving to eliminate vaccine mandates from Florida statutes, rules and regulations, some health care advocates worry that costs of vaccines won't be covered for patients. Meanwhile, the Florida Department of Health continues to keep quiet about whether it will hold a public hearing on a proposal to remove…
Insurance Commissioner Ricardo Lara today announced significant reforms aimed at modernizing California's insurance market. According to a statement from the California Department of Insurance, the proposed regulations seek to enhance transparency, fairness, and accountability in the rate review process under Proposition 103.
-Over several months, the Trump Administration has pressed the Federal Reserve, the nation's central bank, to lower interest rates as a cure for the nation's ailing economy. Then on September 7, the Department of Justice opened a criminal investigation of Governor Lisa Cook in the aftermath of alleged but undocumented mortgage fraud. A Georgia native, Governor…
-The Federal Reserve implemented a strategic interest rate reduction on Wednesday, marking its first rate cut of the year in response to mounting pressures in the U.S. labor market. The Federal Open Market Committee decreased the baseline interest rate to a range between 4 percent and 4.25 percent, representing a 0.25 percentage point reduction.
Over several months, the Trump Administration has pressed the Federal Reserve, the nation's central bank, to lower interest rates as a cure for the nation's ailing economy. Then on September 7, the Department of Justice opened a criminal investigation of Governor Lisa Cook in the aftermath of alleged but undocumented mortgage fraud. A Georgia native, Governor…
The share of lawsuits against Citizens Property Insurance Corp. originating from South Florida has declined sharply. By comparison, the percentage of lawsuits generated in South Florida remained at about 90% between 2014 and 2022, before the state Legislature enacted reforms in 2022 and 2023 to discourage litigation against insurance companies.
Meanwhile, Indiana's financial toll under a new federal law is beginning to take shape, though final numbers are under review, according to comments before the State Budget Committee on Wednesday. But the federal government won't let Indiana move forward with work requirements until 2027, when all Medicaid expansion enrollees must meet that condition as…
WASHINGTON— The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the U.S. labor market. GAZA: Israel launched its Gaza City off ensive Tuesday, as experts commissioned by the U.N. Human Rights Council concluded Israel is committing…
As Congress debates the upcoming federal budget, healthcare costs are at the center of the debate, with some experts saying one proposed bill could save $124 billion in Medicare waste. But with the Republican Party's close relationship with the insurance industry, some wonder if the bill has any chance of being enacted. Bill Cassidy, R- Louisiana, and Jeff Merkley,…
Half face or expect to face trouble obtaining and renewing insurance, with some saying that they could forgo homeowners insurance altogether. As more than one in four homes in the U.S.— representing $12.7 trillion in real estate value— risk exposure to severe or extreme climate risks, nearly half of recent and prospective homebuyers have faced trouble or expect…
The expected rising costs for health insurance could give Democratic candidate Scott Colom a line of attack in next year's election against incumbent Republican U.S. Sen. Congress and President Donald Trump do not act to prevent the increase in health insurance premium costs for about 285,000 Mississippians who purchase coverage through the Affordable…
Created by Congress in 1913, the U.S. Federal Reserve is America's central bank. Between March 2022 and July 2023, the Fed raised the fed funds rate from near-0% to a level between 5.25%-5.5%, a 17- year high. The Fed's goal was to help reduce inflation, which had soared to a 41- year high of 9% in July 2022.
In 1913, Congress gave the Federal Reserve a clear and narrow mission: Safeguard the value of our money and support stable employment. The Fed, like the U.S. Department of Education, U.S. Agency for International Development and others that have come under attack by President Donald Trump's administration, has strayed far from its original purpose.
The U.S. Federal Reserve is under siege. President Donald Trump threatens to fire Chair Jerome Powell. The Supreme Court has confirmed that the chair can't be dismissed except "for cause"— a threshold that the renovation-cost overruns the president has cited don't meet.
The following information was released by the Federal Reserve Board:. The Federal Reserve Board on Friday published the agenda for its community bank conference, which will take place on Thursday, October 9. The " Community Banks: A Path Forward" conference will take place at the Federal Reserve Board building in Washington, D.C., and will be livestreamed for the…
The Bank Policy Institute, the Association of Global Custodians and the Financial Services Forum submitted joint recommendations to the Securities and Exchange Commission yesterday to strengthen crypto custody requirements to protect customers and the financial system. The associations are calling for the SEC to adopt equivalent safeguards and…
Empire Asset Finance, LLC, a new subsidiary of Arena Investors, LP, a $4.6 billion global multi-strategy investment firm, announced its official launch, introducing a financing model built on the principle that lending is not a zero-sum game, and we win when everyone wins. Empire is led by Chief Executive Officer Rick Rockhold and Chief Operating Officer/Chief…
