NU Online News Service, Feb. 11, 1:10 p.m. EST
Members of the House Financial Services Committee are drafting letters to federal regulators asking that designation of any insurer as systemically risky be delayed until insurance experts are in place to help with the process.
The effort is being heavily lobbied by the insurance industry. Three key trade groups, the American Council of Life Insurance, the American Insurance Association and the Reinsurers Association of America, said the same thing earlier this week in a letter to Mr. Geithner, who heads the Financial Stability Oversight Council.
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