The National Conference of Insurance Legislators, which said there is "no room" for an optional federal charter, will propose a resolution opposing OFC legislation in Congress during its spring meeting this week in Washington.
Indeed, state lawmakers and regulators are joining together and ratcheting up their opposition to federal legislation--the National Insurance Act--that would create an optional federal charter for insurers.
NCOIL's president--State Rep. Brian Kennedy, a Democrat from Rhode Island--said that through their national organizations, state officials have "collectively agreed" to oppose OFC legislation.
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