In no way and for no reasons should the insurance industry be held to the same regulations as banks. The insurance industry is significantly different from the banking industry. The insurance industry holds some of the blame for not educating people about the differences. Federal regulators also hold some of the blame for not eliminating their ignorance of the differences between the two industries.
For years the Fed has oversight and regulatory control over the Banking industry and there have been banking failures with this oversight. By putting insurance under the same rules what do they hope to accomplish. They have not been able to stop bank failures so how will this new act help insurance. Yes drive up cost to consumers.
Great. The wolf guarding the hen house.
Unequal treatment under the law can only lead to disaster — and that’s what we have here.
In no way and for no reasons should the insurance industry be held to the same regulations as banks. The insurance industry is significantly different from the banking industry. The insurance industry holds some of the blame for not educating people about the differences. Federal regulators also hold some of the blame for not eliminating their ignorance of the differences between the two industries.
is the same as too big to fail? are our elected officials ignoring prior anti-monopoly laws to save us? and save us from whom?
For years the Fed has oversight and regulatory control over the Banking industry and there have been banking failures with this oversight. By putting insurance under the same rules what do they hope to accomplish. They have not been able to stop bank failures so how will this new act help insurance. Yes drive up cost to consumers.