Senate passes minor tweak to Dodd-Frank

The Senate passed a bipartisan bill Tuesday that would tweak the Dodd-Frank financial reform law regarding business insurance requirements.

Sen. Susan Collins (R-Maine) introduced S. 2270, the Insurance Capital Standards Clarification Act. Her bill aims to clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The measure regulates business insurance of foreign companies doing business within the United States to give states more control.

The measure now heads to the House of Representatives for further action.

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