Barney Frank Cast Doubt on Federal Regulation of Insurance

November 1, 2007

Financial Services Chairman Barney Frank (D-MA) indicated in a speech before the Property Casualty Insurers convention that he didn’t believe any federal charter bill could be enacted as long as insurance agents are opposed to it. He believes that the life insurance industry may have a case for the uniformity that a federal charter would provide for its bank like products, but that the property/casualty lines can’t sustain the same arguments.

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