Financial-services-reform bill gets Obama's signature

07/21/2010 | PropertyCasualty360

President Barack Obama signed into law the financial-services-reform legislation, which includes provisions that create a Federal Insurance Office within the Treasury Department. P/C insurers lauded Congress' decision to limit the office's regulatory authority in the final bill. "We are pleased that Congress ultimately limited the scope of the FIO and recognized that it should not be a duplicative federal insurance regulator," said PCI President David Sampson.

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