On the recordNovember 16, 2015
Mr. Speaker, I yield myself such time as I may consume. This bill, which Mr. Sherman and Mr. Posey have worked so diligently on, brings parity among State law, Federal bank holding company laws, and now the savings and loan holding companies. It clarifies that the FDIC's backup receivership authority is not triggered if a State insurance regulator decides to rehabilitate rather than to liquidate a troubled insurance company. I certainly commend this bill to my colleagues. The Financial Services Committee has looked it over carefully. I urge support of this balanced proposal. Mr. Speaker, I yield back the balance of my time.
