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NAMIC Tells Treasury that Mutual and Reciprocal Insurers Should Not Pay Financial Crisis Responsibility “Tax”
On January 26, 2010, NAMIC sent a letter to the U.S. Treasury Secretary Timothy Geithner expressing our concerns over the proposed Financial Crisis Responsibility Fee on the largest financial firms, including insurance companies, with more than $50 billion in assets. The fee was proposed in an effort to recoup the taxpayers’ money that was paid to struggling financial firms and automakers through the Troubled Asset Relief Program (TARP).
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