A recent filing by the Federal Reserve Board brings to the surface for the first time the battle insurers are waging to preserve state regulation and limit federal intrusion on their activities.
The battle was exposed through a filing by the Fed of an Aug. 6 meeting of officials of the Principal, Des Moines, Iowa, with the Federal Reserve Bank of Chicago over capital standards for insurance companies which operate thrift holding companies proposed June 6.
Susan Houser, assistant vice president for corporate relations for the Principal, said in a statement to National Underwriter that the Fed's proposal would affect any bank, insurer or financial institution that has a savings and loan holding company structure.
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