NU Online News Service, July 24, 10:39 p.m. EDT
National Conference of Insurance Legislators (NCOIL) leaders said they are working on a model act to protect consumers from "the widespread economic fallout of controversial CDS (credit default swap) transactions."
The NCOIL legislators sent a letter explaining the draft model to the chairs of the U.S. Senate Committees on Banking, Housing and Urban Affairs; and Agriculture, Nutrition and Forestry; as well as the chairs of the House Committees on Financial Services, and Agriculture.
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