The Office of the Comptroller of the Currency has toned down its insurance sales guidelines, ceding some ground to state insurance commissioners.

For example, a new draft would subject banks that sell annuities to state consumer protection laws and would bar banks from requiring customers to buy annuities in order to get loans. The proposal released for comment in June did not mention annuities.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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