The insurance industry is expressing widespread, if conditional support, for the passage of S. 3217, Restoring American Financial Stability Act of 2010.
The bill, which will profoundly change how the financial services industry is regulated, passed the Senate by a margin of 59-39. Many proposed amendments odious to the insurance industry, including efforts to repeal antitrust protections for health insurers and have the industry contribute to a bailout fund for systemically risky companies, failed to make the legislation.
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