Tabs

Bank Insurance Agency Management
Community Banks and Insurance
Compliance and Risk Management
Wealth Management
Insurance Product Marketing
Advocacy

Tuesday, July 30, 2013

How Would Senator Warren’s Bill Disconnect Bank and Insurance Activities?

By ABIA Outside Counsel Chris P. Datskos and Adam Maarec, McIntyre & Lemon, PLLC

On July 11, 2013, Senator Elizabeth Warren introduced the bipartisan 21st Century Glass-Steagall Act (S. 1282), which would restrict banks from engaging in insurance and securities activities. The bill was introduced to reinstate the Glass-Stegall Act in our modern banking era, but it appears overly broad and, if passed, would significantly affect the ability of banks to sell insurance.

Read our members-only compliance brief in order to learn about the history behind bank insurance powers, a summary of Sen. Warren's bill, and an assessment of how it would affect bank insurance operations. If you are having trouble logging on or you are with a member that is not a bank, please contact us and we will email you a copy.

ABIA members may access a wealth of compliance information – including our flagship Compliance Handbook on our compliance page. If you need help logging in, please contact us and we will be happy to assist you.