NU Online News Service, May 7, 3:45 p.m. EDT
WASHINGTON–A bipartisan amendment was introduced late Thursday to the financial services reform legislation aimed at exempting insurers from paying for the resolution of large non-insurance financial services companies.
The amendment, if approved by the Senate, would allow the industry to complete its key goal in the legislation now being debated on the Senate floor–to exempt insurers from paying any of the costs associated with winding down systemically risky institutions other than insurers.
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