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Rep. Frank Sees Activist Congress, Much Legislation, Regulatory Revamp
In a wide-ranging speech to the Consumer Federation of America (CFA) on December 4, House Financial Services Committee Chairman Barney Frank (D-Mass.) ...
Defeated OFC Advocate Sununu Named to TARP Oversight Panel
Here's something to keep an eye on. Outgoing New Hampshire Sen. John Sununu (R) was named on December 17 to a special Congressional oversight panel...
President Obama Promises Regulatory Proposal in April
President Obama intends to push a major overhaul of the regulatory apparatus governing financial services by this spring. Obama has not taken a public ...
Sen. Shelby's Remarks About AIG and Federal Regulation
During a recent hearing of the Senate Banking Committee, Ranking Member Richard Shelby (R-Ala.) suggested that the financial problems of AIG should prompt the ...
NAIC Denies Life Insurers' Bid to Loosen Capital Requirements
State Insurance regulators, working through the NAIC, have denied a request from the life insurance industry to relax capital and surplus requirements. During ...
Sununu Uses New Position on TARP Panel to Continue Pushing for OFC
Defeated former Sen. John Sununu (R-N.H.) is using his new position as a member of a panel overseeing federal bailout funds to continue his advocacy...
TARP Panel Member Sununu Joins Firm With Ties to Bank That Received $3 Billion
Former New Hampshire Sen. John Sununu (R), a member of the government watchdog panel that oversees the financial sector rescue fund, is joining the board...
Kanjorski Schedules Hearing on Systemic Risk
The House Financial Services Subcommittee on Capital Markets, Insurance and Government Enterprises will hold a hearing on March 5 that will focus on systemic ...
PCI to Congress: Focus First on Systemic Risk, Other Issues Later
The Property Casualty Insurers Association of America (PCI) is recommending that Congress concentrate on drafting legislation to reduce systemic risk to the ...
Rep. Frank: "Maybe It's Time to Fire Some People at AIG"
As public outrage continues to build following the latest disclosure that AIG is continuing to pay bonuses, House Financial Services Committee Chairman Barney ...
House FSC to Question Geithner, Bernanke About AIG This Week
The controversy surrounding the payment of bonuses at American International Group (AIG) is moving into its second week. On Tuesday March 24, the House ...
NAIC Corrects Misinformation About AIG
In the face of continuing media and consumer confusion regarding American International Group, Inc. (AIG) and the role of state insurance regulators, the ...
Senate Votes to Create Commission, Select Committee to Investigate Financial Meltdown
Support is building on Capitol Hill for the creation of an investigative body to probe the causes of the financial meltdown. The U.S. Senate voted...
NCSL Holds Hearing on States and Systemic Risk
On Thursday, April 23, the National Conference of State Legislatures' Communications, Financial Services and Interstate Commerce Committee, chaired by Rep. ...
NCOIL to Congress: States & Feds Should Work Together on Systemic Risk
The National Conference of Insurance Legislators (NCOIL) has sent a letter to U.S. Senate Banking and House Financial Services Committee leaders cautioning ...
President Obama Issues Broad Restrictions on Preemption of State Law
On May 20, 2009, President Obama issued a memo that places broad restrictions on federal departments and agencies regarding actions to preempt state law. The...
Supporters of Federal Insurance Regulation Redouble Their Efforts
One day before the Obama administration issued its report on regulatory reform which did not recommend federal regulation of insurance, Rep. Paul Kanjorski ...
Supreme Court Decision in Line With Obama's Restrictions on Preemption of State Law
The U.S. Supreme Court's decision in Cuomo v. The Clearing House Association is in line with President Obama's May 20 memo that requires all federal...
Members Named to Commission to Probe Causes of Financial Crisis
On July 15, Congressional leaders announced their appointments to a 10-member Financial Crisis Inquiry Commission with a mandate to probe the cases of the ...
P/C Companies to Congress: Leave Us Out of Financial Services Overhaul
Eleven CEOs from the largest property casualty insurance companies in the country have formed a new coalition to urge Senate Banking, Housing and Urban ...
CBO Says Kanjorski's FIO Bill Will Preempt State Insurance Regulations
All the attention being paid to the healthcare debate on Capitol Hill has taken attention away from what is a continuing threat to state regulation...
PIA, Insurers Urge Changes in Financial Reform Legislation
As debate continues in the Senate on the Wall Street Transparency and Accountability Act of 2010 (S. 3217), insurance industry representatives are advocating ...
NCOIL President Applies for Seat on Federal Advisory Committee on Insurance
National Conference of Insurance Legislators (NCOIL) President George Keiser has applied for a seat on for a seat on the pending Federal Advisory Committee ...
Lloyd's Says FIO Will Be Federal Regulator, NAIC Disagrees
Although the U.S. Treasury's recently established Federal Insurance Office lacks regulatory authority, outgoing Lloyd's of London Chairman Peter Levene thinks ...
Focus Now Shifts to Implementation Process
Now that Congress has approved healthcare reform, the nation's health system will undertake the broadest changes in more than four decades. After spending ...
Rise in Demand for Terrorism Insurance Attributed to Political Conventions
Insurance brokers in Boston and New York are reporting an increase in demand for terrorism insurance, as property owners anticipate greater risks during the ...
Contact Members of Congress and Urge TRIA Extension
The Terrorism Risk Insurance Act (TRIA) is set to expire on December 31, 2005. PIA members: your Members of Congress need to hear personal stories...
In Wake of Hurricanes, Companies Ditch Tape Storage, Favor Distant Backup Locations
A PIA member whose agency was flooded by Hurricane Katrina thought his data was secured. He had two tape backups. But there was a problem:...
PIA Thanks Agents Who Responded to Flood Grassroots
A big "thank you" for your messages to Congress on the need to act quickly on funding to pay claims under the federal flood insurance...
Wall Street Journal Says State Attorneys General Need Code of Conduct
An editorial in the November 13 edition of the Wall Street Journal says that new standards are needed to control some of the activities of...