NU Online News Service, Sept. 13, 3:05 p.m. EDT
WASHINGTON–The National Association of Mutual Insurance Companies (NAMIC) is making clear that it believes it was Congressional intent for the Federal Insurance Office (FIO) created under the financial services reform law to be only a clearinghouse for insurance information–and not a regulator.
In a letter sent to the Treasury Department on Friday outlining some concerns with the implementation of the FIO, NAMIC said it believes the final financial services reform bill established the FIO with "protections in place to prevent the office from becoming a de factor regulator."
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