Tag Archives: insurance

New Consumer Finance Web Site Launched

OnlineEd

(OnlineEd – Portland, OR) Educate, Enforce, and Study are the three main objectives listed over at the new government web site, www.consumerfinance.gov.  The site, operated by the Consumer Financial Protection Bureau, has at its mission “to make markets for consumer financial products and services work for Americans – whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products.”

The Consumer Financial Protection Bureau (CFB) was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank). Many parts of the act are to be implemented on July 21, 2011.

In addition to policing abuses in consumer financial products, the CFPB will also be responsible for simplifying the disclosure forms that Americans get when they take out a mortgage. By simplifying complex mortgage forms, the CFPB can make it easier for a family to shop for a mortgage and avoid surprises after signing on the dotted line.

###

To learn more about the Consumer Financial Protection Bureau, visit their Web site at:  http://www.consumerfinance.gov/

To learn more about Dodd-Frank, please visit the summary posted at:

http://banking.senate.gov/public/_files/070110_Dodd_Frank_Wall_Street_Reform_comprehensive_summary_Final.pdf

Electronic Fingerprints Required for Insurance Licensing

Electronic Fingerprints Now Required

(OnlineEd – Portland, OR) On January 1, 2011, the Insurance Division of Oregon began requiring all insurance license applicants to have their fingerprinting done electronically at certified testing centers. Previously, applicants were able to choose the location and provider, and whether or not they were electronic. By requiring fingerprinting to be done at the testing center, the Insurance Division is able to speed up the processing and validation of the fingerprints and decrease licensee wait-time.

All new licensees are advised to call their exam provider and set an appointment. The provider will digitally scan fingerprints and transmit them electronically to the Oregon State Police for processing.