Filed Under:Life Insurance, Life Practice Management

Bernanke backs tough thrift rules

(AP photo/Dennis Cook)
(AP photo/Dennis Cook)

The Federal Reserve appears to be reiterating that it will use “bank-centric” standards abhorred by the insurance industry in regulating insurance companies which operate thrifts — although some industry trade groups are disputing that interpretation.

Fed chairman Ben Bernanke said the Fed must use bank-centric standards “to meet the legal requirement” imposed by the Dodd-Frank financial services reform that it apply consolidated capital requirements to savings and loan holding companies.

In these paragraphs, Bernanke says the Fed board “recognizes that these are serious concerns and will carefully consider all of the concerns raised in these comments and your letter over the course of the rulemaking.”

Bernanke also said in the letter that federal banking regulatory agencies “will also take operational and other considerations into account when determining appropriate implementation dates and associated transition periods, as with any rule.”

Featured Video

Most Recent Videos

Prospects not listening to voice mail? Arrange a phone date

Provided by LIFEHEALTHPRO

Redesigning your phone life is more important than finding the “best words” for a voice mail in today’s culture.

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI

Provided by LIFEHEALTHPRO

Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Related resources

More Resources

Comments

Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.