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Panel: slim chance for '97 fin'l svcs. reform.(financial services regulatory reform)

A panel of insurance industry experts meeting at the Alliance of American Insurers annual meeting said that there is little chance of financial services regulatory reform being passed by Congress in 1997 and 1998. Regulatory reform to modernize the financial services industry is being blocked by the divisiveness being generated by budget negotiations. The experts, including National Assn of Insurance Commissioners Pres Josephine Musser, also were pessimistic that Congress would take action to restrict the bank insurance business.

An air of pessimism about bank in-roads into the insurance business and the possibility of passing financial services reform legislation marked the opening ...

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