The path has been cleared for national banks to sell annuities anywhere in Texas. Texas Insurance Commissioner Elton Bomer said he will not appeal a recent court decision allowing national banks to sell annuities regardless of state law.

U.S. District Judge James R. Nowlin last week refused to reconsider a case in which the Texas Bankers Association sued Mr. Bomer for barring banks from selling annuities anywhere except in small towns.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.