Jack Reed
- 1996-Current (as of 2023) - US Senator
- 1991-1997 - US House
- Banking and insurance are related, but the insurance industry is fundamentally different, and our approach toward regulators must consider those differences. (p2)
-- Senator Jack Reed (D-RI)
2011 0914 - GOV (Senate-Banking/SII) - Emerging Issues in Insurance Regulation, Jack Reed (D-RI) --- [BonkNote] --- [PDF-51p, VIDEO-Senate]
- Chairman Reed: That is, in your notion, too, about simplifying, et cetera, the Consumer Financial Protection Bureau, and Professor Schwarcz mentioned this, has now modeled mortgage sort of language. I presume that you are working toward, your comments, sort of model language for disclosures, for transparency. Is that——
- .....
- Ms. VAUGHAN. And that is—this working group is discussing how to do that.
- I have to say, my suspicion is it is going to be a little harder in insurance given the variety of the products. It is a little more complex than it is in the mortgage area.
- Chairman REED. Right.
- But I think for that reason also it might be even more necessary so that your efforts are appreciated and should be expedited. (p19-20)
2011 0914 - GOV (Senate-Banking/SII) - Emerging Issues in Insurance Regulation, Jack Reed (D-RI) --- [BonkNote] --- [PDF-51p, VIDEO-Senate]