An insurance industry trade group on Wednesday asked regulators for permission to launch a federal thrift.

The National Association of Mutual Insurance Cos. said it wants to charter a thrift so agents employed by its 1,100 member companies may offer loans and certificates of deposit to customers.

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.