Dec. 10 (Bloomberg) — A measure that would ease capital and liquidity standards for insurers under the Dodd-Frank Act was approved by the U.S. House of Representatives.

The House unanimously passed the bill today to give the Federal Reserve flexibility in setting the standards. The Senate unanimously approved the legislation in June and it now heads to President Barack Obama's desk for his signature.

Insurance companies had lobbied for the change to the 2010 Dodd-Frank financial-regulation overhaul, seeking to roll back the tougher rules. The insurers were supported by Federal Reserve Chair Janet Yellen and Governor Daniel Tarullo.

Recommended For You

"Congress deserves tremendous credit," MetLife Inc. Chief Executive Officer Steven Kandarian said in a statement. "The Fed now has the opportunity to write rules that will preserve competition and ensure affordable access to financial security." MetLife is the largest U.S. life insurer.

The bill is S. 2270.

Copyright 2018 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.