WASHINGTON–Treasury Secretary Henry Paulson's remarks yesterday that the Bush administration will consider the optional federal charter concepts for insurers were hailed by industry proponents of the idea.
Mr. Paulson made his remarks in response to questioning during a Senate Banking Committee hearing that was primarily focused on U.S. relations with China and economic competitiveness.
The secretary said that while the administration has yet to take a clear position on the regulation issue, he personally is in favor of a federal option for insurers and that regulatory structural issues will be considered as part of a Treasury conference examining U.S. competitiveness in March.
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