One of all of the critiques offered by opponents of an optional federal charter (OFC) for insurers, one of the most pointed is that, once enacted, an OFC allow an insurer to seek out the most lenient regulator.
Frank Keating, president and CEO of the American Council of Life Insurers, begs to differ. In a letter to Treasury Secretary Timothy Geithner, Keating reiterated the group’s support for an OFC and argued that enactment would lessen, not exacerbate, the problem of regulatory arbitrage.
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