NU Online News Service, July 24, 10:39 p.m.EDT
National Conference of Insurance Legislators (NCOIL) leaderssaid they are working on a model act to protect consumers from "thewidespread economic fallout of controversial CDS (credit defaultswap) transactions."
The NCOIL legislators sent a letter explaining the draft modelto the chairs of the U.S. Senate Committees on Banking, Housing andUrban Affairs; and Agriculture, Nutrition and Forestry; as well asthe chairs of the House Committees on Financial Services, andAgriculture.
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