Lawmakers exclude life insurance, annuities from CFPA's purview:

10/26/2009 |

Reps. Gwen Moore, D-Wis., and Erik Paulsen, R-Minn., added language that would exclude life insurance and annuities from the oversight by the proposed Consumer Financial Protection Agency. "By clarifying the definition of the 'business of insurance,' the [House Financial Services] Committee made clear that life insurance and annuities will not be within the jurisdiction of the new agency," the Insured Retirement Institute said.

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