Financial Services Industry
Industry: Email Alert RSS FeedD'Amato draft backs state regulation of bank insurance sales.(Senate Banking Committee Chmn Alfonse M. D'Amato bill supports state regulation of the bank insurance business)
National Underwriter Life & Health-Financial Services Edition, May, 1997 by Brostoff, Steven
Senate Banking Committee Chmn Alfonse M. D'Amato has come out in support of the state regulation of the bank insurance business. D'Amato plans to introduce the Financial Products Regulatory Improvement Act that will stipulate that federal law does not supercede the state regulation of the bank insurance business. However, the bill will contain certain non-discrimination provisions that will circumscribe state insurance regulatory powers.
Washington
Senate Banking Committee Chairman Alfonse D'Amato, R-N.Y., is preparing to introduce legislation that would reassert the right of states to regulate bank insurance sales subject to certain non-discrimination requirements.
The legislation, which will be called the Financial Products Regulatory Improvement...
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