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Bank, Securities Groups Tell Congress To Regulate Insurers

The comments were made at a hearing before the House Financial Services Committee on how financial regulation should be restructured to reflect the lessons learned from the current meltdown of financi

By Matt Brady | Updated on October 21, 2008

Representatives of three banking and securities industry trade groups all urged Congress today to create a greater role for federal regulators in overseeing insurance companies.

The comments were made at a hearing before the House Financial Services Committee on how financial regulation should be restructured to reflect the lessons learned from the current meltdown of financial services companies due to investment in credit default swaps and mortgage-backed securities.

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