House committee discusses CFPB's role and bipartisan concerns over consumer protections.

House Bill 1274 would require insurers to file rate decreases if their actual profits exceed the anticipated profit in rate filings by 5% or more for three consecutive years; the committee approved the measure after brief questioning about historical precedent.

The Agriculture & Consumer Affairs subcommittee advanced HB 12 24, which would require affirmative consumer consent when companies automatically renew annual contracts and raise prices; the subcommittee amended the bill to lower the threshold from 50% to 25% and passed it as amended.

Lawmakers debated House Bill 504 to legalize and regulate optional vehicle value protection agreements. The committee adopted an amendment requiring any dealer-return condition to be separately signed and then suspended action to allow further drafting of consumer-protection language.

The committee aims to examine insurance practices and reduce costs for Georgians.

Commissioner discusses tight insurance market and challenges in approving rate hikes.

Commissioner urges insurers to stabilize market and reduce premiums for local convenience stores.