Filed Under:Your Practice, Regulatory

Yellen striving for balance in insurance oversight

Potomac Watch

(AP Photo/Charles Dharapak)
(AP Photo/Charles Dharapak)

The comfortable ride that Janet Yellen received through the Senate confirmation process as the first woman chairman of the Federal Reserve Board should send a large signal to the insurance industry -- a signal that says Congress finds acceptable “having another pair of eyes,” especially one with the quantitative expertise of the Fed, looking over the shoulders of state regulators.

It also says that legislative adjustments in the current insurance regulatory system to limit the Fed’s involvement in insurance regulation will be difficult to come by, no matter how many lawyers, comment letters, legislative floor speeches, etc., opponents of any federal insurance oversight generate.

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Nichole Morford

Nichole Morford
Managing Editor

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