NU Online News Service, May 3, 10:33 a.m. EDT
Insurance companies that own or operate a savings & loan will face fresh oversight from the Federal Reserve Board, which is creating a process by which to examine those financial institutions that have significant banking assets.
At present, National Underwriter has learned that the Fed has identified at least 20 institutions whose holding companies and constituent thrifts it intends to oversee. These include American International Group, State Farm, Nationwide, Prudential, Northwestern Mutual, Massachusetts Mutual and W.R. Berkley. But this list of regulated companies is considered a "moving target" by federal regulators and is subject to change.
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