Congressional Panel Investigates Veterans Insurance
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Representative Edolphus Towns, chairman of the House Oversight and Government Reform Committee, said his panel will investigate the insurance benefits for U.S. soldiers provided by Prudential Financial Inc. and the Department of Veterans Affairs.
Bloomberg Markets magazine reported July 28 that Prudential holds payments owed to the families of fallen soldiers in its general corporate account and sends survivors “checkbooks” that aren’t insured by the Federal Deposit Insurance Corp. The company earns profit on the money held and pays beneficiaries interest.