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Regulation and Compliance > Federal Regulation

Senate Panel Schedules Regulatory Hearing

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The Senate Banking Committee plans to hold a long-awaited hearing on insurance regulatory issues Tuesday.

Industry lobbyists said they have not seen a witness list and are not sure what topics the hearing will cover.

Observers believe the committee has invited representatives from the National Association of Insurance Commissioners, Kansas City, Mo., and the Consumer Federation of America, Washington.

One lobbyist expects the hearing to focus on problems with the current regulatory structure and the future role of the federal government in insurance regulation.

“It was widely known that the committee wanted to hold a hearing on insurance regulatory issues in July,” the lobbyist says. “The question was when. That was because the problems with banks, investment banks and savings and loans, and the Federal Home Loan Mortgage Corp., and the Federal National Mortgage Association are taking up so much of the committee’s time.”