You are here:HomeNews CenterInsurance News2007Bill Would Require Insurers to Make Minority Investments

Bill Would Require Insurers to Make Minority Investments

Insurers would have to meet the same requirements for investing in minority neighborhoods as banks now face, under provisions of planned legislation. Two representatives say...
February 27, 2007

Insurers would have to meet the same requirements for investing in minority neighborhoods as banks now face, under provisions of planned legislation. Two representatives say they intend to introduce legislation that would put Community Reinvestment Act mandates on insurance companies. Under CRA, banks are required to affirmatively meet the credit needs of low- and moderate-income neighborhoods where they operate. Democratic Reps. Eddie Bernice Johnson (Texas) and Luis Gutierrez (Illinois) announced their plan to introduce such legislation in a letter to their House colleagues.

Filed under: