Group Presents OFC Proposal To Treasury

Members of the Financial Services Roundtable met with Treasury officials today and called for enactment of an optional federal charter system.

The FSR, Washington, issued a collection of proposals that included the OFC recommendation before they went into the meeting.

The FSR and other OFC advocates want the government to let insurers choose between state regulation and national regulation, rather than requiring them to stick with the current state regulatory system.

The Treasury, Congress and federal financial regulators already “have taken extraordinary actions that, when fully implemented, will help stabilize and restore financial markets,” the FSR says.