IN THE NEWS
Reforms Pared Back -
-White House to Preserve Regulators but Seek Tougher Rules; Avoiding a Political Battle
WASHINGTON -- The Obama administration is backing away from seeking a major reduction in the number of agencies overseeing financial markets, people familiar with the matter say, suggesting that the current alphabet-soup of regulators will remain mostly intact.
had suggested they might push for major regulatory consolidation
in the wake of the financial crisis. But now they expect to call
for most existing agencies to have broader powers to limit
risk-taking by financial institutions, say the people familiar
with the planning.
Consumer Protection at Risk
The Coalition Organized for the Future of Insurance Regulation (COFIR) represents companies and organizations who are dedicated to preserving the current system of state-based regulation of insurance products and agents, which through the oversight of state insurance commissioners and state attorneys general has effectively protected policyholders and consumers for nearly one hundred and fifty years.