U.S. House Financial Services Committee Hearings Scheduled on Insurance Holding Company Supervision, Credit Scoring

Mar 17, 2010


Insurance Holding Company Supervision to be Examined

U.S. House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Chairman, Congressman Paul E. Kanjorski (D-PA), announced that he has scheduled a March 18, 2010 hearing to examine the interaction between federal and state regulators regarding the oversight of holding companies with insurance activities.  Entitled “Insurance Holding Company Supervision,” the hearing will begin at 10:00 a.m.

To access a live webcast of this hearing, click here.

“The Financial Services Committee has been working to better understand the supervision and health of all sectors of the financial services industry.  Presently, there is a lack of clarity about where one regulator’s jurisdiction ends and another’s begins,” said Chairman Kanjorski.  “This educational hearing will help Members and the public learn about how federal and state regulators interact when dealing with insurers and insurance holding companies.  I look forward to an explanation of what the authority of each regulator presently is and how much interaction and cooperation actually takes place among them.  Our witnesses can help us to discern the ways to better improve supervision of this sector of our financial markets.”

Witness list and prepared testimony:

  • Mr. Jon Greenlee, Associate Director, Division of Banking Supervision and Regulation, Federal Reserve Board of Governors
  • Ms. Grovetta N. Gardineer, Managing Director for Corporate and International Activities, Office of Thrift Supervision
  • Mr. Sean Dilweg, Commissioner, State of Wisconsin, Office of the Commissioner of Insurance
  • Ms. Ann Frohman, Director, Nebraska Department of Insurance


Credit Scoring Hearing Also Scheduled

A hearing entitled “Keeping Score on Credit Scores: An Overview of Credit Scores, Credit Reports and their Impact on Consumers” has been scheduled for March 24 at 2:00 p.m. by the U.S. House Financial Services Subcommittee on Financial Institutions and Consumer Credit.  More information and a list of witnesses will be provided as it becomes available.


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