Conference Committee Must Reject Treasury Rollback of State Insurance Laws in Wall Street Reform Bill
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WASHINGTON, June 14 /PRNewswire-USNewswire/ -- The financial reform bill will deregulate state insurance oversight by allowing the Treasury Department to use a new national insurance office to overturn a broad range of state protections, including solvency rules, if the legislation is not amended, warned Consumer Watchdog today. The House-Senate Conference Committee meets to consider the issue on Tuesday.
The group urged adoption of the House version of a national insurance office to ensure state regulators maintain the ability to protect insurance consumers and preserve state solvency laws. The Senate bill would grant the Treasury Secretary unprecedented authority to write new domestic insurance policy in the international arena, behind closed doors, and to use those agreements to override stronger state laws.See the full content of this document
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Conference Committee Must Reject Treasury Rollback of State Insurance Laws in Wall Street Reform Bill
"Insurance deregulation shouldn't be the legacy of financial reform," said Carmen Balber, Washington Directo...
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