CUNA Mutual Backs Insurance Reg Reform

WASHINGTON - A representative of CUNA Mutual Group at a recent House Financial Services Committee meeting on the Treasury Blueprint for regulatory reform endorsed the concept of a national charter for insurance companies, which has been kicking around Congress for a decade, saying uniform national standards would save both it and its policyholders significant money and be much simpler than the current state-by-state system of regulation. U.S. Rep. Paul Kanjorski (D-PA) introduced a bill to create a federal regulatory structure to be overseen by the Treasury Department. Such a national office, he said, is one of the major provisions of the recently introduced Treasury Blueprint. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com