GOP call to end SIFIs raises question of who will mind the store 3:34 …


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The chairman of the House Financial Services Committee's call to strip the Financial Stability Oversight Council of the ability to designate insurers and others as systemically important financial institutions leaves unanswered the question of how insurance groups should be regulated. In remarks prepared for an address to the Economic Club of New York last week, Rep. Jeb Hensarling, R-Texas, outlined details of the Financial CHOICE Act, a Republican plan to replace the Dodd-Frank Wall Street Reform and Consumer Protection Act.