State Banking

DC Approves 2026 Health Insurance Rates

The DC Department of Insurance, Securities and Banking (DISB) has approved the 2026 health insurance rates for individual and small business plans. The approved rates reflect average increases of 8.7% for individual plans and 9.5% for small group plans, while also securing over $1.2 million in savings for District residents.

State Farm Dividend Returns Over $7 Million to DC Auto Policyholders

The DC Department of Insurance, Securities and Banking (DISB) announced that State Farm will issue a special dividend to eligible District auto policyholders. This dividend, totaling over $7 million, reflects strong nationwide underwriting performance and will be distributed to policyholders with a Private Passenger Auto Voluntary Preferred policy in force on December 31, 2025.

Idaho DOF Order Against The Ohio Company for Unregistered Securities

The Idaho Department of Finance issued an order against The Ohio Company for selling unregistered securities and operating without proper broker-dealer registration. The company agreed to pay a $5,000 fine and offer rescission to affected Idaho residents.

Orb Industries and Charles Hight Investigated for Securities Violations

The Idaho Department of Finance has issued an Agreement and Order against Orb Industries, Inc. and Charles C. Hight for violations of the Idaho Securities Act. The respondents were fined $2,500 for inadequate disclosure in their securities offering.

Union Financial Corporation - Mortgage Enforcement Order

The Idaho Department of Finance has issued an Agreement and Order against Union Financial Corporation for violations of the Idaho Residential Mortgage Practices Act. The company conducted mortgage banking activities without the required license, leading to a Cease and Desist Order and an agreement to comply with future regulations.

Idaho Fines First Union Brokerage for Unregistered Securities Sales

The Idaho Department of Finance has fined First Union Brokerage Services, Inc. $5,000 for selling securities in Idaho without being properly registered as a broker-dealer or having licensed agents. The company has agreed to make offers of rescission to affected Idaho residents.

Idaho DOF Order Against Lindgren and McFarland for Securities Violations

The Idaho Department of Finance issued an Agreement and Order against Gary M. Lindgren and Michael B. McFarland for violations of the Idaho Securities Act. The respondents sold unregistered securities and operated as unlicensed broker-dealers, leading to an agreement for rescission offers to investors.

Louisiana OFI Sets Loan Principal Balance Limits for 2025-2026

The Louisiana Office of Financial Institutions (OFI) has published the maximum outstanding principal balance limits for deferred presentment transactions and small loans for the 2025-2026 period. These limits, set at $720.00 for deferred presentment and $360.00 for small loans, are effective from September 1, 2025, to August 31, 2026.

Jerry Pearson Pleads Guilty to $3.4M Wire Fraud Scheme

Jerry O. Pearson pleaded guilty to a $3.4 million wire fraud scheme involving client funds managed through Mid South Retirement Services, LLC. The investigation was conducted by the FBI and the Louisiana Office of Financial Institutions Securities Division.

Louisiana Small Loan Law Effective Date

The Louisiana Office of Financial Institutions (OFI) has announced new legislation concerning deferred presentment transactions and small loans, which will become effective on August 1, 2025. This legislation introduces updated regulations for entities operating within these financial sectors in Louisiana.