On June 12, the U.S. Court of Appeals for the Fifth Circuit issued a significant opinion in the case involving Guardian Flight, LLC and Med-Trans Corporation, two air ambulance providers, against the defendant insurance company. This case centered around the enforcement of Independent Dispute Resolution (IDR) awards under the No Surprises Act (NSA), a law enacted in 2022 to protect patients from unexpected medical bills from out-of-network providers during emergencies.
On May 31, the Ninth Circuit Court of Appeals published an opinion in Bristol SL Holdings, Inc. v. Cigna Health and Life Insurance Company, which has significant implications for the healthcare industry, most notably by clarifying the broad scope of the Employee Retirement Income Security Act’s (ERISA) preemption of state law causes of action arising from pre-service coverage communications between medical providers and health plan administrators.
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging 2023. Courts across the country issued rulings that will have immediate and lasting impacts on the industry. Our team of more than 140 professionals has prepared this concise, yet thorough analysis of the most important issues and trends throughout our industry. We not only examined what happened in 2023, but also what to expect — and how to prepare — for the months ahead.
The Department of Treasury (DOT) has been slow to dole out the nearly $10 billion available under the Homeowner Assistance Fund (HAF), a pandemic aid program enacted by Congress to provide relief to homeowners. Under the HAF, homeowners can apply for relief, including payoff of deferred balances accrued during pandemic forbearance periods. As of October