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Panel Advances FIO Rollback Bill

A panel of the House Financial Services Committee has reported out legislation to the full committee that would significantly restrict the ability of federal regulators to get financial information from insurance companies.

By Elizabeth D. Festa and Arthur D. Postal | Updated on December 09, 2011

A panel of the House Financial Services Committee has reported out legislation to the full committee that would significantly restrict the ability of federal regulators to get financial information from insurance companies.

The bill, H.R. 3559, the Insurance Data Protection Act of 2011, was sponsored by Steve Stivers (R-Ohio) and was approved along party lines. The vote was 7-5, with Republicans supporting it and Democrats opposing it.

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