NU Online News Service, Dec.11, 4:15 p.m. EST
The House passed the wide-ranging Wall Street Reform and Consumer Protection Act of 2009, drawing an immediate and generally favorable reaction from one insurance trade group and a lukewarm response from another.
After the measure that would create a Federal Insurance Office was approved today on vote of 223 to 202, Charles M. Chamness, the National Association of Mutual Insurance Companies president and CEO, said the bill respected the state-based regulatory framework for property and casualty insurance while creating an office to serve as a national information center.
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