Dec. 10 (Bloomberg) — A measure that would ease capital and liquidity standards for insurers under the Dodd-Frank Act was approved by the U.S. House of Representatives.

The House unanimously passed the bill today to give the Federal Reserve flexibility in setting the standards. The Senate unanimously approved the legislation in June and it now heads to President Barack Obama's desk for his signature.

Insurance companies had lobbied for the change to the 2010 Dodd-Frank financial-regulation overhaul, seeking to roll back the tougher rules. The insurers were supported by Federal Reserve Chair Janet Yellen and Governor Daniel Tarullo.

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