FDIC Likely To Pounce On GOP Insurer Insolvency Bill

Law360, New York (September 19, 2012, 7:51 PM EDT) -- A recent bill that aims to ensure state regulators — and not the Federal Deposit Insurance Corp. — handle insurer insolvencies will likely face tough opposition from Democrats and the FDIC, which stands to lose insurer contributions to a fund for liquidating too-big-to-fail financial institutions, attorneys say.

The Dodd-Frank Act gave the FDIC the power to liquidate troubled financial institutions whose failure could trigger a financial crisis. The law also allowed the FDIC to charge an assessment to financial companies with at least $50 billion in...
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