WASHINGTON--A group of 16 House Democrats released a new plan for financial services reform legislation that calls for "modernizing the regulation and oversight of the insurance industry."
Under the so-called "new Democrats" plan, the plank for insurance includes a call for legislation that ensures that the federal government has "adequate information" about insurance industry operations and activities, and allows for a "consolidated U.S. position in international trade discussions."
The document also calls for a new system that provides for "robust" consumer and investor protection.
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