HR 4557
113th Congress
House
Finance and Financial Sector
Administrative law and regulatory procedures
Bank accounts, deposits, capital
Banking and financial institutions regulation
Federal Reserve System
Insurance industry and regulation
Policyholder Protection Act of 2014
Introduced: May 1, 2014
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 20, 2014
Hearings Held by the Subcommittee on Housing and Insurance Prior to Referral.
May 1, 2014
Referred to the House Committee on Financial Services.
May 1, 2014
Introduced in House
Plain-English summary
Policyholder Protection Act of 2014 - Amends the Federal Deposit Insurance Act to declare that any regulation, order, or other action of the Board of Governors of the Federal Reserve System that requires a bank holding company to provide funds or other assets to a subsidiary depository institution shall not be effective nor enforceable with respect to an entity that is a savings and loan holding company that is also an insurance company, an affiliate of an insured depository institution that is an insurance company, or any other company that is an insurance company and that directly or indirectly controls an insured depository institution if: (1) such funds or assets are to be provided by the entity, and (2) the state insurance authority for the insurance company determines that such an action would have a materially adverse effect on the entity's financial condition.
Declares further that requiring a bank holding company that is an insurance company or such an entity to serve as a source of financial strength shall be deemed the kind of action of the Board to which this Act applies.
What's happening now
Hearings Held by the Subcommittee on Housing and Insurance Prior to Referral.
Committees of jurisdiction
2