NU Online News Service, Nov. 24, 11:58 a.m. EST
The Federal Deposit Insurance Corporation should defer to state regulators when involved in the resolution of a systemically risky insurance company, two property and casualty insurance trade groups say in comment letters to the agency.
The FDIC should defer to the states even when seeking repayment on funds loaned by the FDIC to help liquidate a non-insurance subsidiary or affiliate of an insurance company.
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