Legislation that would create an Office of Insurance Information at the Treasury Department has been pulled off the floor in the U.S. House of Representatives, although the House did pass a measure to set up a national agency licensing system.
House Speaker Nancy Pelosi, D-Calif., decided on Wednesday night to yank H.R. 5840 off the House "suspension calendar"–which is used to consider what appear to be uncontroversial bills–after Rep. Jackie Speier, D-Calif., a lawmaker from a neighboring district who is serving her first term in Congress, raised questions about how the measure would affect California insurance rate regulation.
Members of the House did pass H.R. 5611, a bill that would change nonresident agent licensing by creating a National Association of Registered Agents and Brokers. H.R. 5611 likely will go to the Senate Banking Committee for further action.
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