Financial Services Industry
Industry: Email Alert RSS FeedBarnett case may impact HUD oversight.(Barnett Bank case ruling may set precedent for greater federal regulation of state insurance companies, Department of Housing and Urban Development)
National Underwriter Property & Casualty-Risk & Benefits Management, April, 1996 by Brostoff, Steven
WASHINGTON--The U.S. Supreme Court's ruling in the Barnett Bank case may have muddied the waters regarding the scope of the McCarran-Ferguson Act, industry officials contend. In ruling that the McCarran-Ferguson Act does not protect Florida's anti-affiliation law from federal preemption, the high court left industry representative at odds over the impact of the ruling's language on the application of other federal statutes to the business of insurance--specifically, the Fair Housing Act.
While some believe the court's language may actually help insurers seeking to avoid regulation of homeowners insurance by the Department of Housing and Urban Development, others are not so sure. They believe the court's language at best will have no impact on the dispute over HUD...
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