Michigan Gov. Rick Snyder (R) announced on Thursday he has signed an executive order establishing the Department of Insurance and Financial Services to regulate insurance and banking activities in the state.The agency will take over activities currently under the Office of Financial and Insurance Regulation.Snyder said the change is intended "to provide a focal point of consumer protection, enable efficient and effective regulation, and position the insurance and financial services sector for economic growth."In the announcement, Snyder said that "the insurance and financial services fields ar...
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