Congress Passes Bill Loosening Dodd-Frank Capital Restrictions on Insurers
Congress passed a bill that will loosen the Dodd-Frank capital rules imposed on insurers. The legislation unanimously passed the Senate in June and passed by voice vote in the House on Wednesday. S. 2270 changes the Collins Amendment and will allow the Federal Reserve more flexibility. The legislation clarifies that the Federal Reserve is not required to include insurance companies when drafting minimum capital requirements to be imposed on systemically important financial institutions. The bill now goes to President Obama for his signature, which he is expected to sign into law.
Explore Additional Topics