Regulatory Hearing

Those following the Treasury’s plan to establish an optional federal charter (OFC) for insurers, will turn their attention to Capitol Hill tomorrow where a hearing is scheduled before the Capital Markets Subcommittee of the House Financial Services Committee on H.R. 5840, the Insurance Information Act of 2008. H.R. 5840 would create a federal Office of Insurance Information within the Treasury department. Creation of this office was recommended as part of the blueprint on federal regulation of financial services, including insurance, unveiled by the Treasury in April (see our March 31 posting). The hearing will take place at 10am, 2128 Rayburn House Office Building. Check out further I.I.I. info on the OFC.  

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