Supporters of optional federal charter legislation calling for U.S. Senate hearings on the bill as soon as possible may be getting their wish.
Indeed, the insurance industry has reportedly pinned down Sen. Richard Shelby, R-Ala., who chairs the Senate Banking Committee, on his commitment to explore insurance regulatory reform options by securing a July 11 hearing date.
Sen. Shelby was described by industry lobbyists as a reluctant warrior on insurance regulatory reform, but has agreed to allow the industry to "cover the gauntlet" on legislative options. Sen. Shelby's office did not respond to requests for confirmation.
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