Financial reform should not harm insurance industry, lawmaker says

03/4/2010 | PropertyCasualty360

Speaking at an industry conference, Rep. Bruce Braley, D-Iowa, voiced support for financial-reform legislation that would not give the proposed Federal Insurance Office or the Treasury Department regulatory powers over the insurance industry. Although the proposed reform is necessary to eliminate irregularities in the financial-services sector, sweeping legislation could have undesired consequences for businesses and individuals, Braley said.

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