The Financial Services Act of 1999: Hearings Before the Subcommittee on Finance and Hazardous Materials of the Committee on Commerce, House of Representatives, One Hundred Sixth Congress, First Session, on H.R. 10, April 28 and May 5, 1999, Volume 4 |
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Page 16
... NAIC requests that the Committee on Commerce correct the insurance regu- latory problems in HR 10. To help accomplish that goal , State regulators are under- taking two important initiatives ( 1 ) NAIC is providing the Commerce ...
... NAIC requests that the Committee on Commerce correct the insurance regu- latory problems in HR 10. To help accomplish that goal , State regulators are under- taking two important initiatives ( 1 ) NAIC is providing the Commerce ...
Page 17
... NAIC . We were told that all parties affected by HR 10 will suffer a certain amount of pain , but nobody has informed insurance consumers that they are among the groups who will suffer when State laws and regulations are preempted . The ...
... NAIC . We were told that all parties affected by HR 10 will suffer a certain amount of pain , but nobody has informed insurance consumers that they are among the groups who will suffer when State laws and regulations are preempted . The ...
Page 109
... NAIC strongly oppose the Banking Committee version of H.R. 10 . To correct these deficiencies , we are submitting specific amend- ments to the Commerce Committee that will preserve our central authority to the following areas ...
... NAIC strongly oppose the Banking Committee version of H.R. 10 . To correct these deficiencies , we are submitting specific amend- ments to the Commerce Committee that will preserve our central authority to the following areas ...
Page 110
... NAIC amendments make it clear that State laws cannot overtly discriminate against banks or indirectly be used to prevent them from engaging in business activities pro- vided for under H.R. 10 . Equal standing in the court . The NAIC ...
... NAIC amendments make it clear that State laws cannot overtly discriminate against banks or indirectly be used to prevent them from engaging in business activities pro- vided for under H.R. 10 . Equal standing in the court . The NAIC ...
Page 111
... ( NAIC ) and Chairman of the NAIC's Special Committee on Financial Services Modernization . The NAIC established this Special Committee in 1996 to as- sist State insurance regulators as they continue to meet the demands of the Nation's ...
... ( NAIC ) and Chairman of the NAIC's Special Committee on Financial Services Modernization . The NAIC established this Special Committee in 1996 to as- sist State insurance regulators as they continue to meet the demands of the Nation's ...
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Common terms and phrases
Alan Greenspan amendments Arthur Levitt assets authority bank holding company bank's banking regulators believe bill Bliley broker broker-dealer brokerage Chairman Greenspan Commerce Committee Commission competitive concerns Congress consumer protection costs customers deposit insurance DINGELL engage ensure entities equity exemption FDIC Federal Reserve financial institutions financial modernization financial services industry financial services modernization functional regulation GAAP gentleman holding company affiliates holding company structure House Banking Committee insurance activities insurance agents insurance companies insurance regulators insurance sales insured depository institutions investment adviser issue legislation LEVITT loan mutual funds NAIC NASAA NASD national banks NICHOLS nonbank op-sub operating sub operating subsidiary OXLEY Paine Webber parent bank permit preempted provisions regu regulatory capital requirements risk RUBIN safe harbor safety and soundness Section securities activities securities firms SHIMKUS SINDER STUPAK subcommittee subsidy surance testimony Thank tion Treasury underwriting unitary thrift version of H.R. ZIMPHER
Popular passages
Page 16 - ... or any bank holding company as defined in the Bank Holding Company Act of 1956 which is not an investment company...
Page 119 - Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York...
Page 179 - ... what constitutes doing business in this State, and also exercises powers and privileges available to the state by virtue of Public Law 15, 79th Congress of the United States, Chapter 20, 1st Session, S. 340, which declares that the business of insurance and every person engaged therein shall be subject to the laws of the several states.
Page 9 - Nothing in this title shall affect the jurisdiction of the securities commission (or any agency or office performing like functions) of any State or Territory of the United States, or the District of Columbia, over any security or any person.
Page 125 - Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, National Credit Union Administration, Office of Thrift Supervision, and the Department of Housing and Urban Development.
Page 81 - Fellow-citizens, we cannot escape history. We, of this Congress and this administration, will be remembered in spite of ourselves. No personal significance, or insignificance, can spare one or another of us. The fiery trial through which we pass, will light us down, in honor or dishonor, to the latest generation.
Page 92 - The gentleman from New York, Mr. Towns. Mr. TOWNS. Thank you very much, Mr. Chairman. Let me begin by making a comment that Ms.
Page 200 - Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS) and to make recommendations to promote uniformity in the supervision of financial institutions.
Page 128 - Before the Subcomm. on Telecommunications and Finance of the House Comm. on Energy and Commerce (Apr.
Page 111 - Paying for insurance products is one of the largest consumer expenditures of any kind for most Americans. Figures compiled by the NAIC show that an average family can easily spend a combined total of $4,500 each year for auto, home, life, and health insurance coverage. This substantial expenditure...