Consumer Financial Protection Agency to cut mis-selling

The US proposed regulation of financial service has been set out in an 88-page document, setting up a new regulator called the Consumer Financial Protection Agency to look after personal financial services, the Times reports.

It will prevent a repeat of the sales of sub-prime mortgages that led to last year's financial crisis.

Other details include:

  • A beefed-up Federal Reserve will oversee businesses considered 'too big to fail'
  • A Financial Services Oversight Council made up of representatives from the various regulators
  • US Treasury will have the power to seize control of failing companies and undertake an orderly wind-down
  • The Office of Thrift Supervision, which regulates small deposit-taking institutions, will close.

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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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