Kirk working on differentiating regulations on banks and insurance companies

Posted on July 19, 2016
Mark Kirk at Senate hearing
U.S. Sen. Mark Kirk (R, Ill.) is staying away from the Republican National Convention. (Photo courtesy Facebook/Mark Kirk)

By Greg Halbleib

WASHINGTON, D.C. – U.S. Sen. Mark Kirk (R, Ill.) is pushing federal legislation that would differentiate insurance companies from the rules that regulate banks.

Kirk said the current regulations are not one size fits all.

“Under the Sarbanes-Oxley Act, the Federal Reserve has the ability to regulate insurance companies,” Kirk told WJBC’s Terry James, “and I’ve been making sure that the Fed knows the difference between regulating an insurance company and a bank.”

Kirk has also reiterated that he’s not going to Cleveland for the Republican National Convention, saying he’s traveling throughout Illinois but adding that presumed presidential nominee Donald Trump is too bigoted and racist for Illinois. Kirk said he plans to write in former Secretary of State and retired General Colin Powell for president, calling it a protest vote even though it won’t count because Powell is not registered as a write-in candidate.

PODCAST: Listen here to Terry James’ interview with Sen. Kirk.

Greg Halbleib can be reached at [email protected].

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