Legislation proposed by Sen. Chris Dodd, D-Conn., would give specific authority to federal banking regulators to oversee insurance companies, especially if they pose a potential threat to the financial system.
Legislation proposed by Sen. Chris Dodd, D-Conn., would give specific authority to federal banking regulators to oversee insurance companies, especially if they pose a potential threat to the financial system.
The Obama administration will propose putting large insurance companies under control of a federal financial system risk regulator and probably a U.S. insurance regulator as well, according to a draft document.