Fed to go easy on insurance companies

The Federal Reserve Board made it clear it doesnt want to preempt the role of state insurance regulators in overseeing the traditional activities of insurance companies.

By Arthur D. Postal | Updated on September 09, 2014

The Federal Reserve Board outlined for itself a very circumscribed role in regulating insurance companies. Specifically, it made clear that it doesn’t want to preempt the role of state insurance regulators in overseeing the traditional activities of insurance companies.

In an appearance before the Senate Banking Committee, Daniel Tarullo, the Fed governor most directly associated with financial regulation, also emphasized that the Fed has a different role to play in overseeing insurance companies, a role only associated with assuring the safety and soundness of the U.S. financial system.

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