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WASHINGTON–Supporters and opponents of a federal role for insurers used their appearances at a congressional hearing on American International Group’s bonus payments to reiterate their views today on a proposed optional federal insurance charter.

In brief comments at the hearing, Rep. Ed Royce, R-Calif., a longtime supporter of legislation that would create an OFC, said he has been warning of the “system risk” problems created by state regulatory system for insurance since 2006, and that they would continue to exist until a federal role for insurance is created.

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