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  • Fidelity National Financial acquires Hudson & Marshall

    ServiceLink, the provider of transaction services to the mortgage and finance industries, is getting into the auction business thanks to its parent company buying one of the country’s top auction companies. On Monday, Fidelity National Financial, the title insurance giant and parent company of ServiceLink, announced that it acquired Hudson & Marshall. Click the headline to read more.

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Insurers find Dodd-Frank loophole

Argument still up for debate

pile of paper

According to an article in The Wall Street Journal, a slight quirk in the text of Dodd-Frank may make life easier for some of the biggest U.S. insurers.

They argue the Federal Reserve should look to state-insurance rules to craft capital requirements for insurers designated as systemically important financial institutions. That task is complicated by the fact that state rules rely heavily on third-party credit ratings, while the Dodd-Frank Act ordered all federal regulators to strip ratings from their rules.

In this case, the devil is very much in the Dodd-Frank details. The language of the financial-overhaul law doesn't actually contain a prohibition on rules relying on credit ratings. Rather, one section, 939A, instructed federal agencies to do three things.

Source: WSJ
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