NU Online News Service, May 29, 3:21 p.m. EDT

WASHINGTON–The German Insurance Association is calling on Congress to create an optional federal charter for insurers, saying federal regulation would promote "better regulation with no less scrutiny" than under the current system.

In a letter to the chairman and ranking members of the House Financial Services Committee, two top officials of the GDV, as it is known, said an OFC would "increase the prospect of greater international cooperation."

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