Dozens of Members of Congress, including Senator Collins, who authored the original legislative requirement, have written to the Federal Reserve Board saying that this application of bank regulation to insurance is inappropriate.
Collins and others oppose applying bank regulations to insurance companies.
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I will not support a cut in PEPFAR, which is a program that has saved literally millions of lives and has been extremely effective and well-run.
Congress should have been informed about the operation earlier and needs to be involved as this situation evolves.
I was disappointed more than surprised, because it clearly is an end-run around Congress.
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