Senate Conducts Hearings on Capital Regulations for Insurers
Targeted News Service
by VESSIE ABALOS Targeted News Service
WASHINGTON, March 17 -- The Senate Banking, Housing, and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection has conducted a hearing on March 11 to examine the right capital regulations for insurers, including S. 1369, to provide additional flexibility to the Board of Governors of the Federal Reserve System to establish capital standards that are properly tailored to the unique characteristics of the business of insurance; and S. 2102, to clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Testimony was received from Michael W. Mahaffey, Nationwide Mutual Insurance Co., Columbus, Ohio; Gina Wilson, TIAA-CREF, Short Hills, N.J.; H. Rodgin Cohen, Sullivan and Cromwell LLP, Irvington, N.Y.; Aaron Klein, Bipartisan Policy Center, Silver Spring, Md; and Daniel Schwarcz, University of Minnesota Law School, Minneapolis.
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