Insurer Assocs Splitting Over H.R. 10

Monday, June 21st, 1999 Legislation & Regulation Risk Management

Privacy and politics might be driving a wedge among insurance company groups in the effort to enact financial services reform legislation. The groups are taking strikingly different positions of the version of the legislation, H.R. 10, recently approved by the House Commerce Committee by a voice vote. In addition to enhancing state regulation of bank insurance activities compared to the version of H.R. 10 approved by the House Banking Committee, the Commerce Committee's bill contains strong privacy protection language that would allow consumers to prevent the sharing of personal financial information among affiliates of a financial services holding company and with third parties.

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http://www.nationalunderwriter.com/archives/Pc_archive/1999/P06-21/25hr10.asp

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