(Sep 7) -- The Senate Committee on Banking, Housing, and Urban Affairs approved, by voice vote, a bill that would keep an independent member with insurance expertise on Financial Stability Oversight Council. The panel's nongovernment insurance voting member would stay on the council as long as 18 months beyond a six-year term if a presidential appointee hasn't been confirmed to the post by the Senate. No successor to Roy Woodall, the current insurance voting member whose term expires Sept. 30, has been nominated. The House approved an identical version of the legislation (S. 1463, H.R. 3110), on Sept. 5.
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