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February 02, 2006 at 12:36 PM
Insurance and banking industry officials met with Treasury Department officials Wednesday to discuss the administration’s views on efforts to create an optional federal charter for insurance companies.
Kevin McKechnie, a lobbyist for the American Bankers Insurance Association, Washington, says the Treasury Department scheduled the meeting, with Emil Henry, the department’s assistant secretary for financial institutions, to hear the arguments of OFC proposal supporters.
Treasury Department officials and representatives for the American Council of Life Insurers, Washington, declined to talk about the meeting, but one attendee described it as “courteous.”
Lisa McGreevy, executive vice president for external affairs at the Financial Services Roundtable, Washington, says the meeting was “significant, because for the first time the Treasury Department has asked for and initiated a discussion about the OFC.”
The Financial Services Roundtable, a group that represents large financial services companies, has listed creating an optional federal charter as a top 2006 legislative priority.
