Chicago — Two paragraphs in a 107-page report, it seems, are sufficient to reignite the ongoing debate about an optional federal charter (OFC) for insurers.

Released by the U.S. Government Accountability Office last week, the report, “Framework for Crafting and Assessing Proposals to Modernize the Outdated U.S. Financial Regulatory System,” summarizes the history of the U.S. financial regulatory system and contemplates its future.

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