Proposed Bank Restrictions Could Hurt Annuity Sales

Following a difficult couple of years, sales of annuities through banks are set to increase this year, but they could face difficulties if a proposal by President Barack Obama to restrict the size and activities of large commercial banks is enacted... In an effort to reduce the risk posed by banks, the President said Thursday he would ask Congress to bar them from proprietary trading or from owning, investing in or sponsoring hedge funds or private equity funds.

Analysts said these regulations could be bad news for banks that sell wealth management products, including annuities...

Financial Planning: Proposed Bank Restrictions Could Hurt Annuity Sales