Howdy, Partner!Here in Hoboken, I could almost hear the sighs of relief from the other side of the Hudson River as state regulators meeting in Manhattan received assurances from a key member of Congress that their jobs were safe at least for now.

Rep. Michael Oxley, R-Ohio, who chairs the House Financial Services Committee, does not intend to preempt state insurance regulation anytime soon. Instead, members of the National Association of Insurance Commissioners said that he envisions a “full federal-state partnership,” with locals continuing to do the heavy lifting.

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