Federal Chartering Vote Unlikely This Year

Washington

The House Financial Services Committee is unlikely to consider optional federal chartering of insurance companies this year, a senior committee member said.

Rep. Richard Baker, R-La., who chairs the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, reportedly told an industry group that he expects the committee to consider a more incremental approach, but one that deals with industry concerns over speed-to-market and regulatory uniformity.

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