A congressional panel will examine whether an optional federal charter for insurance companies is needed, the chairman of the U.S. House Financial Services Committee said Tuesday. The committee’s panel on insurance and capital markets is launching a series of hearings …
The head of the U.S. Federal Deposit Insurance Corp said Friday that she favors a council of regulators over one entity to oversee systemic risk in the financial system. “If there was a (interagency) council for systemic risk, that would …
America’s market-based economic system once created the largest economic engine in the world and gave this country one of the highest standards of living in history. However, that system now faces a credibility crisis of great proportions. The extraordinary and …
The chairman of a U.S. House oversight panel said Wednesday he will soon call the chief executive of American International Group Inc. to testify, amid the committee’s ongoing probe of the fall of the insurance giant. Democratic Rep. Edolphus Towns, …
Leaders of the U.S. Senate Judiciary Committee said Wednesday they had reached agreement on key elements of a bill to revise U.S. patent law. One of the changes would require judges hearing patent infringement cases to play a gatekeeper role …
Maurice “Hank” Greenberg, former CEO of American International Group Inc. and creator of the AIG unit whose investments triggered the insurance giants’s near collapse, portrayed himself as a victim in testimony before a congressional panel Thursday. Some lawmakers questioned his …
Two congressional leaders introduced legislation today that would create a federal regulator for insurance as an alternative to the current state-based regulatory structure currently in plan. Rep. Melissa Bean, D-Ill., and Rep. Ed Royce, R-Calif., introduced their bipartisan insurance regulation …
The U.S. Department of Labor’s Mine Safety and Health Administration (MSHA) has announced that settlement conferences held between mine operators and MSHA personnel to resolve enforcement disputes will be deferred until after civil penalties have been proposed and the operator …
According to National Association of Insurance Commissioners (NAIC) President and New Hampshire Insurance Commissioner Roger Sevigny, the most recent financial services regulatory proposal from the Obama Administration retains a role for state insurance commissioners. “We are encouraged by Treasury Secretary …
Wall Street faces curbs on risk taking and the prospect of lower profits under sweeping U.S. proposals to prevent a repeat of the credit crisis. The Obama administration’s plan to rewrite financial rules, announced Thursday, would create a single regulator …
