Financial Services Industry
Industry: Email Alert RSS FeedFederal-insurance-charter option top among issues; Frank, Dodd panels also to examine hedge funds.(Investment Outlook: Regulation)
Investment News, January, 2007
Byline: Sara Hansard
WASHINGTON - Key Democratic leaders of congressional committees that handle financial services issues are open to considering giving life insurers the option of being regulated federally.
"There is some good argument for uniformity'' of regulation, Rep. Barney Frank, D-Mass., said in late November at the Washington-based Consumer Federation of America's financial services conference here.
However, he added, "it's been too often used as an excuse to get rid of consumer laws.'' The key for Mr. Frank, who soon will become chairman of the House Financial Services Committee, is ensuring that consumer protections be set at a reasonable level.
The committee will be pushing against federal pre-emption of state...
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