The chairman of the Subcommittee on Housing and Insurancewrote a sharply worded letter to Federal InsuranceOffice Director Michael McRaith, demanding to know why severaloverdue reports required by the Dodd-Frank Act were still notsubmitted to Congress.

“As director of FIO, you have failed to comply with thestatutory requirements to provide the reports detailedbelow,” wrote Randy Neugebauer, R-Texas, citing three reports,including the so-called insurance regulation modernization report,which is the most long-awaited. It was due Jan. 21, 2012.

The FIO reports, when published, would go to the subcommitteeand parent House Financial Services Committee. In the Oct. 7 letterto McRaith, Neugebauer says Congress has not been given any legaljustification of why FIO has not met its report deadlines so farand asked for a written response detailing the reasons — whetherpersonnel, budgetary, political, operational or technical — as towhy the reports are not submitted yet.

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