PIA-Backed FIO Repeal Bill Reintroduced
A bill backed by PIA to repeal the Federal Insurance Office (FIO) has been reintroduced in the U.S. House by Rep. Alex Mooney (R-WV).
“The FIO has never been necessary,” said PIA National Vice President of Government Relations Jon Gentile. Advocates of federal insurance regulation succeeded in getting the FIO established as part of the Wall Street Reform and Consumer Protection Act (Dodd-Frank). PIA fought the establishment of the FIO, and then succeeded in turning back attempts at the time to give it broad regulatory authority. PIA National was the first national association to call for the repeal of the FIO.
PIA worked closely with Rep. Mooney on developing his bill. PIA National will continue this effort by vigorously advocating for Rep. Mooney’s legislation at the upcoming PIA National congressional fly-in, the PIA Federal Legislative Summit, and throughout the 116th Congress.