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Tuesday, July 30, 2013

Judge Orders Bernanke to Provide Deposition in AIG Bailout Lawsuit

AIG bailout lawsuitA U.S. judge has ordered that Federal Reserve Chairman Ben Bernanke can be questioned in a lawsuit against the government filed by the former head of American International Group Inc.

It is rare for a Fed chairman to be deposed in a lawsuit. But Judge Thomas Wheeler of the U.S. Court of Federal Claims...

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Cities Across America Begin Hiring Again

TeachersCities across the U.S. are starting to hire new teachers, firefighters and police officers as a deep and prolonged slide in local-government employment appears to have bottomed out four years after the recession ended....

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Bermuda Sees More New Companies in First Half of 2013

Bermuda insurersBermuda saw an uptick in new companies registered in the first half of the year, the Bermuda Monetary Authority said.

For the first half of 2013, 34 new insurers had registered in Bermuda, up from 24 insurers for the same period last year. It also represents an increase from the first quart...

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Deloitte Survey: Financial Institutions Increasing Focus and Resources on Risk Management

Deloitte report on risk managementHeightened regulatory scrutiny and greater concerns over risk governance have led financial institutions to elevate their focus and attention on risk management, a new global survey fr...

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EE Hall Launches Exclusive Used Auto Dealer Insurance with Berkley Underwriting Partners

EE Hall and Auto Dealers programEE Hall announces the launch of an exclusive insurance product for the Independent Auto Dealer with Berkley Underwriting Partners. EE Hall for over two years has partnered with National Independent Auto Dealers Associati...

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AIG No Longer Servicing Retail Deposit Accounts Due to Dodd-Frank Limits

AIG closing savings bankAmerican International Group Inc. (AIG) will return funds to customers of its banking unit and shut their accounts as the Dodd-Frank Act places limits on insurers with deposit-taking units.

AIG Federal Savings Bank "will no longer be servicing retail deposit accounts as of Sept. 30," according...

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Aetna Profits Up 17 Percent

Aetna profitsHartford health insurer Aetna posted $536 million in profit in its second quarter, up 17 percent from the same quarter a year ago.

The company posted $11.54 billion in revenue in its second quarter, a 31-percent increase driven by growth in premium revenues.

"Strong performance in our commercial insu...

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