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Tuesday, July 22, 2014

Legislation would Require FIO to Study Insurance Steering or Redlining

This month, Representative Clay (D-MO) introduced HR 5067, which requires the Federal Insurance Office (FIO) to “carry out a study to determine whether the insurance industry is engaging in the illegal practices of insurance steering or redlining.”

Specifically, the text of the legislation mandates that the FIO Director conduct a study to "investigate insurance products, pricing, promotions, and placement of services being offered to consumers in the United States."  The study report would be due to Congress 180 days after enactment and the FIO would be authorized to make legislative recommendations in the report.  

Learn more about HR 5067.