The government has denied a community group's request to impose a six-month moratorium on granting federal thrift charters to insurers.
The Office of Thrift Supervision's director, Nicolas P. Retsinas, in a Sept. 19 letter told the Greenlining Institute that the agency would continue to review all applications on a case-by-case basis.
The San Francisco-based community group last month urged the OTS to sit on thrift applications by insurance companies until at least February, while federal regulators investigate whether the firms discriminate against minorities and the poor.
Five insurance companies, including State Farm Mutual Automobile Insurance Co., have requested federal thrift charters. A decision on the Travelers Group's application is due by Oct. 26; action on the Principal Group's request is expected by Nov. 2.