2018 0307 - GOV (House) - Legislative Review of H.R. 5059: The State Insurance Regulation Preservation Act - 1:48:00

• [PDF-86p, VIDEO-youtube] - <mp3, mp4>
• Chair - Duffy - State Insurance Regulation Preservation Act.  Rothfus, 
• Ross (FL) v Schwarcz
• Testimony - Daniel Schwarcz - 16p
• 27:00 - Ross - Dodd-Frank, State Based Regulation
• 43:45 - Schwarcz - Opening 5 minutes
  • Insurance Savings and Loan Holding Company, arbitrage, less stringently regulated, creates new, Dodd-Frank, -Primary reason AIG failed was the failure of the OTS to perform group level oversight.  States haven't done group supervision...maybe until 2008.
• 58:15 - to Duffy. More important point. Intent of bill vs effect of the bill.  savings and loan holding company - definition (p2).  Example: JP Morgan.  ...there's a problem, but this isn't the solution.
• 1:04:30 - Ross v Schwarcz
  • Schwarcz: yeah, okay, great. 
  • Ross: Are you demeaning the State Regulators?
• 1:28 - 2 different business models - Banking and Insurance - Congressman Luetkemeyer (MO)
• 1:34 - Schwarcz - I wouldn't forget about the Securities Lending
• 1:48 - Schwarcz / McCarther - SIFI's, Feds role, before 2008 Savings and Loans holdings companies had a federal regulator.  OCC. Costs and Benefits.
• House - Committee on Financial Services - Housing and Insurance