Thursday, June 25, 2009
Insurers, banks criticize Obama's proposed consumer watchdog agency
Consumer Financial Protection Agency will not meet the public’s needs, say critics
Life insurers and banks bashed the administration’s proposal for a Consumer Financial Protection Agency today at a House Financial Services Committee hearing.
“We do not believe … that the interests of life insurance consumers would be well-served by subjecting life insurance products to the additional jurisdiction of the CFPA,” Gary Hughes, vice president and general counsel of American Council of Life Insurers Executive of Washington, said in prepared testimony...
Investment News: Insurers, banks criticize Obama's proposed consumer watchdog agency
Life insurers and banks bashed the administration’s proposal for a Consumer Financial Protection Agency today at a House Financial Services Committee hearing.
“We do not believe … that the interests of life insurance consumers would be well-served by subjecting life insurance products to the additional jurisdiction of the CFPA,” Gary Hughes, vice president and general counsel of American Council of Life Insurers Executive of Washington, said in prepared testimony...
Investment News: Insurers, banks criticize Obama's proposed consumer watchdog agency
Permalink posted by markw @ 5:43 AM 
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