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Rep. Biggert Grills Geithner on FIO Report Delay

At a March 20 hearing of the U.S. House Financial Services Committee, U.S. Rep. Judy Biggert (R-Ill.) questioned U.S. Treasury Secretary Timothy Geithner about the delay in the Federal Insurance Office’s report on modernizing insurance regulation and whether it can be attributed to a lack of resources
March 28, 2012

At a March 20 hearing of the U.S. House Financial Services Committee, U.S. Rep. Judy Biggert (R-Ill.) questioned U.S. Treasury Secretary Timothy Geithner about the delay in the Federal Insurance Office’s report on modernizing insurance regulation and whether it can be attributed to a lack of resources. Geithner said that the report is closer to being finished. “We’ve just been a little busy and I apologize for the fact they’re a little behind . . . it’s just that they [want to] do it carefully,” he said. “We’ve listened carefully to concerns people have, and I am personally committed to making sure that the office has the resources it needs.” The report was due Jan. 21, 2012. PIA National filed written testimony with the FIO in conjunction with the report.