Federal Charter Law PassageSeen As Unlikely This Year

Washington

Optional federal chartering of insurance companies, one of the most divisive issues facing the industry, stands little chance of being enacted into law this year, industry representatives generally agree.

Although legislation has been introduced in the Senate, and the House Financial Services Committee is expected to hold hearings on the issue, both advocates and critics of optional federal chartering say the issue probably will not advance beyond that this year.

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