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RIMS


February 2017 Newsletter 2/28/2017

Whitney B. Craig RIMS Government Relations Director

Florida RIMS on the Hill Recap 

The Florida RIMS on the Hill event took place in Tallahassee on February 20-21. Florida members traveled to meet with their legislators to discuss legislation concerning workers’ compensation, flood insurance, and medical marijuana. Attendees discussed their concerns about the current workers’ compensation rate increase of 14.5% in depth with the Chair of the Banking and Insurance Committee, Senator Anitere Flores as well as Florida Insurance Commissioner David Altmaier. The Senate Banking and Insurance Committee will begin to discuss legislation to lower the current workers’ compensation rates in March.

Lawmakers Introduce Bills to Eliminate Consumer Financial Protection Bureau (CFPB)
Legislation introduced this month in the Senate by Sen. Ted Cruz (R-TX) and in the House of Representatives by Rep. John Ratcliffe (R-TX), would repeal Title X of the Dodd-Frank Act, which created the CFPB. The two lawmakers argue that the CFPB has had accountability and regulatory issues from its inception and that these problems can only be resolved by killing the bureau. As this is not in line with the majority of Republicans these bills are unlikely to have much support in Congress.

President Trump Signs Orders Outlining New Financial System Regulation
President Trump signed two orders in early February involving the financial system. The first, an executive order with the goal of scaling back the provisions of Dodd-Frank, mainly directs the heads of regulatory agencies to report back to him within 120 days with suggestions to change existing financial regulations. The second, a Presidential Memoranda, halts the implementation of the Fiduciary Rule, and directs the Department of Labor to review the Rule before it is implemented.​ 


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About RIMS

As the preeminent organization dedicated to educating, engaging and advocating for the global risk community, RIMS, the risk management society™, is a not-for-profit organization representing more than 3,500 corporate, industrial, service, nonprofit, charitable and government entities throughout the world. RIMS has a membership of approximately 11,000 risk practitioners who are located in more than 60 countries. For more information about the Society’s world-leading risk management content, networking, professional development and certification opportunities, visit www.RIMS.org.

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