Most read stories for the week include Navient CEO Jack Remondi criticizing the CFPB and the NAIC asking Congress to exercise caution with ACA repeal.
Navient CEO rips CFPB for making 'political statement' with lawsuit
Navient Corp. President and CEO Jack Remondi reiterated and amplified the company's pointed criticism of the claims brought against it by the Consumer Financial Protection Bureau and two state attorneys general in recently filed lawsuits, while he vowed to ensure the legal action will not become a distraction to the business.
Raymond James holding off on complying with DOL fiduciary rule, CEO says
Raymond James Financial Inc. is ready to comply with the U.S. Department of Labor's fiduciary standard rule, but the company has not forced its financial advisers to completely adhere to the soon-to-be implemented regulation just yet, CEO Paul Reilly said.
Travelers' poor Q4'16 personal auto results without recent precedent
Travelers Cos. Inc. is taking action to address the underwriting profitability and growth of an agency automobile business that produced its highest combined ratio for a quarter and a calendar year since its formative 2004 merger nearly 13 years ago.
Loans lasting 'longer than the average marriage' don't play big role in auto ABS
Auto loans with original terms of more than 72 months became more popular in 2016, but they do not constitute a growing portion of the pools backing the first several auto ABS deals of 2017. And they continue to be absent altogether from some deals.
NAIC cautions Congress on ACA repeal, says action must be 'carefully considered'
The National Association of Insurance Commissioners' leaders are warning Congress that potential action taken to change the health insurance market could do "irreparable harm" and lead to a rapid collapse of that market.