WASHINGTON — Democratic leaders of the House Financial Services Committee are exploring creating a federal regulator or modifying a multi-state compact to increase oversight and provide more uniform standards for insurers of municipal bonds and other financial products.

Rep. Paul E. Kanjorski, D-Pa., chairman of committee’s capital markets panel, talked about the regulatory options the committee is exploring in an interview Friday. The options include drafting legislation to allow for the creation of a federal regulator for insurers, or providing them with the option of complying with a federal charter. The insurers are currently chartered by the states and follow state regulations.

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