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In rush to reform, consumers could lose; Balancing state, federal oversight is key to financial reform.(NEWS)(Editorial)
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Star Tribune (Minneapolis, MN)
- Article date:
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April 2, 2008
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Copyright informationCOPYRIGHT 2008 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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More than 30,000 Minnesotans call the state Department of Commerce each year with questions about the sometimes arcane and confusing products sold by insurance companies. It's not the sexiest work around, but Commerce Commissioner Glenn Wilson believes it's a vitally important consumer protection role.
That's one reason why Wilson and regulators from other states are less than thrilled with U.S. Treasury Secretary Henry Paulson's proposal to overhaul the nation's financial regulatory system by taking responsibility away from the states in favor of federal oversight. It will be a very cold day in Washington before a federal agency is equipped to handle all of the necessary ...
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