Talks about the future of the Terrorism Risk Insurance Act (TRIA), the federal risk insurance programme, have broken down.
According to reports, disagreements over whether the act should include changes to the Dodd-Frank law that overhauled the US banking system have stalled progress.
New York Democrat Sen. Charles Schumer and Texas Republican Rep. Jeb Hensarling have clashed over whether to include bank-reform add-ons in TRIA.
11 December 2014 The House of Representatives passed a bill last night (Wednesday December 10) to reauthorize the Terrorism Risk Insurance Act (Tria) but the bill may still face opposition in the Senate due to changes made to the Dodd-Frank act to allow non-financial companies to be exempt from certain rules in trading derivatives.
11 December 2014 The House of Representatives passed a bill last night (Wednesday December 10) to reauthorize the Terrorism Risk Insurance Act (Tria) but the bill may still face opposition in the Senate due to changes made to the Dodd-Frank act to allow non-financial companies to be exempt from certain rules in trading derivatives.