The National Association of Insurance and Financial Advisors has joined the chorus of insurance groups welcoming a decision to put insurance outside Consumer Financial Protection Agency jurisdiction.
“To impose another layer of regulation on top of an already robust insurance regulatory regime is unnecessary and would provide no additional benefit to consumers,” NAIFA President Thomas Currey says in a statement.
Members of the House Financial Services Committee today voted 39-29 to approve H.R. 3126, the bill that would create the CFPA.