Posted: 5/31/2011
Rep. Barney Frank Agrees: Continue to Allow P/C Companies Access to Federal Home Loan Bank System
In March, NAMIC submitted comments to the Federal Housing Finance Agency regarding a notice of a proposed rulemaking that would have effectively shut out most property/casualty insurance companies from participating in the Federal Home Loan Bank system. The comments strongly stated that limiting their access to membership would also go against historical precedent and that there is no compelling reason to revise and tighten membership regulations at this time. The comments further urged the FHFA to withdraw the proposed rulemaking from consideration.