Washington
The battle in Congress over extension of the Terrorism Risk Insurance Act and preoccupation with a controversial Supreme Court confirmation will likely delay introduction of the SMART regulatory reform bill and could push any action on it into next year.
That likelihood was made even more evident when the Capital Markets Subcommittee of the House Financial Services Committee announced that it will hold a hearing on TRIA on July 27. A number of industry representatives are expected to say at the hearing that they will support an extension of TRIA that narrows current federal commitments and has a phase-out date.
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