Jack Reed

  • 1996-Current (as of 2023) - US Senator
  • 1991-1997 - US House
  • Banking and insurance are related, but the insurance industry is fundamentally different, and our approach toward regulators must consider those differences.  (p2)

-- Senator Jack Reed (D-RI)

2011 0914 - GOV (Senate-Banking/SII) - Emerging Issues in Insurance Regulation, Jack Reed (D-RI)  ---  [BonkNote]  ---  [PDF-51p,  VIDEO-Senate] 

  • Chairman Reed: That is, in your notion, too, about simplifying, et cetera, the Consumer Financial Protection Bureau, and Professor Schwarcz mentioned this, has now modeled mortgage sort of language. I presume that you are working toward, your comments, sort of model language for disclosures, for transparency. Is that——
  • .....
  • Ms. VAUGHAN. And that is—this working group is discussing how to do that.
    • I have to say, my suspicion is it is going to be a little harder in insurance given the variety of the products. It is a little more complex than it is in the mortgage area.
  • Chairman REED. Right.
    • But I think for that reason also it might be even more necessary so that your efforts are appreciated and should be expedited.  (p19-20)

2011 0914 - GOV (Senate-Banking/SII) - Emerging Issues in Insurance Regulation, Jack Reed (D-RI)  ---  [BonkNote]  ---  [PDF-51p,  VIDEO-Senate]