Two TARP overseers want optional federal insurance regulation

01/30/2009 | PropertyCasualty360

Former New Hampshire GOP Sen. John Sununu and Texas Rep. Jeb Hensarling, the ranking Republican member of the Subcommittee on Financial Institutions and Consumer Credit of the House Financial Services Committee, are supporting the creation of an optional federal charter for insurers. The two members of the Troubled Asset Relief Program Oversight Panel wrote in a minority report: "Congress should institute a federal charter that may be utilized by insurance firms to underwrite, market, and sell products on a national basis."

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