Legislation introduced in the Senate late July 25 would give the Federal Reserve Board the authority to tailor capital standards of insurers it oversees to the business of insurance.
The bill was introduced with bipartisan support by five senators, signaling that it has support strong enough to allow it to pass the Senate. There also appears to be strong support to do so in the House.
However, the House leaves for its August recess July 31 the Senate Aug. 2, so it is unlikely the legislation will receive congressional action until the fall.
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