The FIO is one of the creations of Dodd-Frank that was not needed in the first place, and is still not needed. (Photo: Shutterstock)

When does legislation that is supposed to scale back onerous federal regulation actually end up strengthening it? When it contains a provision that has the potential of creating a federal insurance czar.

The Financial CHOICE Act is designed to reform Dodd-Frank and get rid of the many restrictions it places on the ability of our financial system to function in a manner that will grow our economy. In most respects, it does an excellent job of this. But inexplicably, the CHOICE Act contains a provision that could increase, rather than reduce, federal encroachment on insurance.

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