GARY G. MILLER: “I think it's incumbent on us to demonstrate to the American people that we're trying to do the right thing.”

That is a tremendous concern from the insurance industry today, that they are getting into an area the Feds were never authorized to get into.

The private label mortgage-backed securities were a disaster. Most of them were basically predatory loans.

NAFCU believes that any relief efforts should not bifurcate the industry by asset size and would not support such an approach.

Under the proposed rule, the bank-centric standards will be detrimental to insurance companies.