FDIC could expand to cover insurance companies, Bair says

10/30/2008 | Reuters

If Congress changes the regulatory structure for insurance companies from a state-by-state system to a federal one, the Federal Deposit Insurance Corp. could be extended to cover insurers, FDIC Chairwoman Sheila Bair said. The FDIC could provide guarantees for insurers similar to the way it does for banks, Bair said.

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