WASHINGTON--A House committee will probably consider optional federal charter legislation for insurers in stages, focusing first on the life sector, the panel chairman said today.

Rep. Barney Frank, D-Mass., who chairs the House Financial Services Committee, said the group will address an OFC for life insurers before dealing with the more controversial issue of an OFC for property-casualty carriers.

Rep. Frank brought up the issue of "bifurcation" on the OFC as he outlined an ambitious agenda for his committee for this year at a press briefing.

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