Congress Creates A Financial Services Issues Group

By Steven Brostoff

November 14, 2003 at 07:00 PM

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NU Online News Service, Nov. 13, 2003, 4:06 p.m. EST — Washington

Congressional leaders have created a new House-Senate Working Group on Financial Services that will work on issues affecting financial institutions, including insurance.

The working group will be co-chaired by Rep. Pat Tiberi, R-Ohio, and Sen. Jim Bunning, R-Ky.

The goal of the working group will be to build coalitions and promote policies that will strengthen the economy and promote jobs, according the House Majority Whip Roy Blunt, R-Mo., who helped organize the working group.

Tiberi says the working group will focus on insurance, banking and real estate.

"I hope we can work with industry leaders to identify problems and develop solutions," he says in a statement. "We can also use this working group to improve communications between the House and Senate, so we can speak with a stronger, more unified voice on legislative and regulatory issues affecting the industry."

Tiberi says he and Bunning will meet as soon as possible to develop the working group's initial agenda.

Anne Sittmann, a representative of the National Association of Independent Insurers, Des Plaines, Ill., has praised the selection of Tiberi as co-chairman of the Working Group.

"Not only does he have superior knowledge and experience with financial services issues, but he is in tune with the insurance industry," Sittmann says. "Rep. Tiberi's strong relationship with our Ohio member companies is definitely a plus."

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